Sangamo Therapeutics (NASDAQ:SGMO) Earns “Sector Perform” Rating from Royal Bank of Canada

Sangamo Therapeutics (NASDAQ:SGMO)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $2.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 130.04% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Jefferies Financial Group cut their target price on shares of Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, December 31st. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a research report on Monday, January 27th. StockNews.com lowered shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Wells Fargo & Company lowered their price target on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 31st. Finally, Truist Financial lowered their price target on shares of Sangamo Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.17.

Sangamo Therapeutics Price Performance

SGMO opened at $0.87 on Tuesday. The company has a fifty day moving average price of $1.08 and a 200-day moving average price of $1.41. The firm has a market capitalization of $181.40 million, a P/E ratio of -1.16 and a beta of 1.49. Sangamo Therapeutics has a one year low of $0.30 and a one year high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The company had revenue of $7.55 million during the quarter, compared to analysts’ expectations of $11.70 million. On average, analysts expect that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SGMO. Charles Schwab Investment Management Inc. raised its stake in shares of Sangamo Therapeutics by 5.5% during the third 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. FMR LLC raised its stake in shares of Sangamo Therapeutics by 16.5% during the third quarter. FMR LLC now owns 544,003 shares of the biopharmaceutical company’s stock valued at $471,000 after acquiring an additional 77,032 shares during the last quarter. State Street Corp raised its stake in shares of Sangamo Therapeutics by 28.0% during the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock valued at $576,000 after acquiring an additional 145,400 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Sangamo Therapeutics by 167.8% during the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 64,981 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Sangamo Therapeutics by 14.6% during the third quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after acquiring an additional 272,123 shares during the last quarter. 56.93% of the stock is 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.