Barclays Increases Sangamo Therapeutics (NASDAQ:SGMO) Price Target to $9.00

Sangamo Therapeutics (NASDAQ:SGMO) had its price objective raised by Barclays from $3.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective points to a potential upside of 339.02% from the company’s current price.

A number of other analysts have also weighed in on the stock. StockNews.com initiated coverage on shares of Sangamo Therapeutics in a research note on Sunday, July 28th. They set a “sell” rating on the stock. HC Wainwright upped their target price on shares of Sangamo Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

Sangamo Therapeutics Price Performance

Shares of NASDAQ:SGMO opened at $2.05 on Thursday. The firm’s 50-day moving average is $1.33 and its two-hundred day moving average is $0.86. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The firm has a market capitalization of $427.67 million, a PE ratio of -2.73 and a beta of 1.10.

Hedge Funds Weigh In On Sangamo Therapeutics

Several hedge funds have recently added to or reduced their stakes in SGMO. Mirae Asset Global Investments Co. Ltd. purchased a new position in Sangamo Therapeutics in the first quarter valued at approximately $331,000. State Board of Administration of Florida Retirement System increased its stake 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 valued at $42,000 after purchasing an additional 23,650 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Sangamo Therapeutics by 4.0% in the first quarter. Acadian Asset Management LLC now owns 4,943,260 shares of the biopharmaceutical company’s stock valued at $3,311,000 after acquiring an additional 192,385 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Sangamo Therapeutics by 58.8% in the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after acquiring an additional 1,528,600 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Sangamo Therapeutics by 56.3% in the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 207,476 shares during the period. 56.93% of the stock is currently owned by hedge funds and other 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.