Sangamo Therapeutics (NASDAQ:SGMO) Hits New 12-Month High After Analyst Upgrade

by · The Cerbat Gem

Sangamo Therapeutics, Inc. (NASDAQ:SGMO – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday after HC Wainwright raised their price target on the stock from $5.00 to $10.00. HC Wainwright currently has a buy rating on the stock. Sangamo Therapeutics traded as high as $2.45 and last traded at $2.44, with a volume of 8196817 shares. The stock had previously closed at $2.16.

Separately, StockNews.com began coverage on Sangamo Therapeutics in a research note on Sunday, July 28th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.33.

View Our Latest Report on SGMO

Institutional Investors Weigh In On Sangamo Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised 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 valued at $1,479,000 after purchasing an additional 1,528,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sangamo Therapeutics in the 1st quarter worth $331,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sangamo Therapeutics in the 2nd quarter worth $89,000. Vontobel Holding Ltd. raised its position in shares of Sangamo Therapeutics by 412.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after acquiring an additional 241,440 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Sangamo Therapeutics by 56.3% in the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 207,476 shares in the last quarter. 56.93% of the stock is owned by institutional investors.

Sangamo Therapeutics Trading Up 15.7 %

The stock has a market capitalization of $520.55 million, a P/E ratio of -1.81 and a beta of 1.10. The company has a 50-day moving average price of $1.05 and a 200 day moving average price of $0.75.

Sangamo Therapeutics (NASDAQ:SGMO – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $0.36 million during the quarter, compared to the consensus estimate of $11.40 million. Sangamo Therapeutics had a negative return on equity of 273.25% and a negative net margin of 2,033.69%. As a group, research analysts expect that Sangamo Therapeutics, Inc. will post -0.47 earnings per share for the current year.

About Sangamo Therapeutics

(Get Free Report)

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.

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