Sangamo Therapeutics (NASDAQ:SGMO) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a hold rating to a buy rating in a report issued on Thursday morning.

Several other research firms have also commented on SGMO. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a report on Thursday, November 14th. Barclays boosted their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th.

Sangamo Therapeutics Stock Down 1.7 %

SGMO opened at $2.26 on Thursday. The stock’s fifty day moving average is $1.57 and its two-hundred day moving average is $0.97. The company has a market capitalization of $471.54 million, a P/E ratio of -3.01 and a beta of 1.10. Sangamo Therapeutics has a 52 week low of $0.30 and a 52 week high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $49.41 million for the quarter, compared to the consensus estimate of $26.55 million. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. During the same quarter in the prior year, the company earned ($0.34) EPS. Equities analysts anticipate that Sangamo Therapeutics will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its holdings in Sangamo Therapeutics by 61.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 23,650 shares in the last quarter. Renaissance Technologies LLC grew its position in Sangamo Therapeutics by 58.8% during the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock worth $1,479,000 after purchasing an additional 1,528,600 shares during the period. Marshall Wace LLP raised its stake in shares of Sangamo Therapeutics by 56.3% during the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 207,476 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Sangamo Therapeutics in the second quarter worth about $67,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sangamo Therapeutics during the second quarter worth about $89,000. 56.93% of the stock is currently owned by institutional investors.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc, a clinical-stage genomic medicine company, focuses on translating science into medicines that transform the lives of patients and families afflicted with serious diseases in the United States. The company's clinical-stage product candidates are ST-920, a gene therapy product candidate, which is in Phase 1/2 clinical study for the treatment of Fabry disease; TX200, a chimeric antigen receptor engineered regulatory T cell (CAR-Treg) therapy product candidate that is in Phase 1/2 clinical study for the prevention of immune-mediated rejection in HLA-A2 mismatched kidney transplantation; SB-525, a gene therapy product candidate, which is in Phase 3 clinical trial for the treatment of moderately severe to severe hemophilia A; BIVV003, a zinc finger nuclease gene-edited cell therapy product candidate that is in Phase 1/2 PRECIZN-1 clinical study for the treatment of sickle cell disease.