Sangamo Therapeutics (NASDAQ:SGMO) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a sell rating to a hold rating in a research note released on Thursday morning.

A number of other research firms have also issued reports on SGMO. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a report on Thursday. Barclays upped their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday.

Sangamo Therapeutics Stock Performance

Shares of Sangamo Therapeutics stock opened at $2.05 on Thursday. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The business has a 50 day moving average price of $1.33 and a 200 day moving average price of $0.86.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $49.41 million during the quarter, compared to analysts’ expectations of $26.55 million. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. During the same period in the previous year, the firm posted ($0.34) earnings per share. On average, analysts anticipate that Sangamo Therapeutics will post -0.5 EPS for the current year.

Institutional Trading of Sangamo Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meritage Portfolio Management lifted its holdings in shares of Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 6,740 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Sangamo Therapeutics by 61.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 23,650 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sangamo Therapeutics by 55.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 38,850 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 57,125 shares during the period. Finally, XTX Topco Ltd grew its stake in shares of Sangamo Therapeutics by 167.8% during the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 64,981 shares during the period. Hedge funds and other institutional investors own 56.93% of the company’s stock.

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.