Geode Capital Management LLC Increases Holdings in Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

Geode Capital Management LLC boosted its position in Sangamo Therapeutics, Inc. (NASDAQ:SGMO) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,211,849 shares of the biopharmaceutical company’s stock after purchasing an additional 73,540 shares during the period. Geode Capital Management LLC’s holdings in Sangamo Therapeutics were worth $2,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. E Fund Management Co. Ltd. purchased a new stake in shares of Sangamo Therapeutics in the 4th quarter valued at $25,000. JPMorgan Chase & Co. lifted its stake in Sangamo Therapeutics by 679.5% in the fourth quarter. JPMorgan Chase & Co. now owns 25,000 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 21,793 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Sangamo Therapeutics by 2,319.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 26,078 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 25,000 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Sangamo Therapeutics during the fourth quarter valued at about $28,000. Finally, Shelton Wealth Management LLC purchased a new position in shares of Sangamo Therapeutics in the fourth quarter worth about $29,000. 56.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SGMO shares. Royal Bank of Canada restated a “sector perform” rating and set a $2.00 price target on shares of Sangamo Therapeutics in a research report on Tuesday, March 18th. Jefferies Financial Group decreased their target price on shares of Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, December 31st. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research report on Monday, April 7th. Wells Fargo & Company decreased their price objective on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 31st. Finally, Truist Financial dropped their target price on shares of Sangamo Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.17.

Sangamo Therapeutics Trading Down 2.6 %

Shares of SGMO opened at $0.72 on Wednesday. Sangamo Therapeutics, Inc. has a 1-year low of $0.30 and a 1-year high of $3.18. The firm has a market capitalization of $162.08 million, a price-to-earnings ratio of -0.96 and a beta of 1.57. The firm’s 50-day moving average price is $0.82 and its 200-day moving average price is $1.38.

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

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.