Sangamo Therapeutics (NASDAQ:SGMO) Given New $2.00 Price Target at Wells Fargo & Company

Sangamo Therapeutics (NASDAQ:SGMO) had its target price reduced by Wells Fargo & Company from $3.00 to $2.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 96.08% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Barclays increased their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a report on Thursday, December 19th. StockNews.com cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sangamo Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Sangamo Therapeutics Stock Down 56.4 %

Sangamo Therapeutics stock opened at $1.02 on Tuesday. The firm has a 50-day moving average price of $2.14 and a two-hundred day moving average price of $1.22. Sangamo Therapeutics has a 52-week low of $0.30 and a 52-week high of $3.18. The firm has a market capitalization of $212.82 million, a price-to-earnings ratio of -1.36 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The firm had revenue of $49.41 million for the quarter, compared to the consensus estimate of $26.55 million. During the same quarter in the previous year, the business earned ($0.34) EPS. Research analysts expect that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meritage Portfolio Management boosted its position in Sangamo Therapeutics by 8.6% during the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 6,740 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Sangamo Therapeutics by 55.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 38,850 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Sangamo Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after acquiring an additional 57,125 shares during the last quarter. XTX Topco Ltd lifted its holdings in Sangamo Therapeutics by 167.8% in the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 64,981 shares during the last quarter. Finally, Golden State Equity Partners raised its position in shares of Sangamo Therapeutics by 35.2% in the third quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 69,368 shares during the period. 56.93% of the stock is owned by hedge funds and other institutional investors.

Sangamo Therapeutics Company Profile

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.