Sangamo Therapeutics (NASDAQ:SGMO) Stock Rating Upgraded by StockNews.com

Sangamo Therapeutics (NASDAQ:SGMO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other analysts have also weighed in on SGMO. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a report on Thursday, November 14th. Barclays raised their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th.

Sangamo Therapeutics Stock Performance

Shares of NASDAQ SGMO traded up $0.16 during mid-day trading on Thursday, hitting $2.30. 5,157,035 shares of the stock were exchanged, compared to its average volume of 6,892,255. The company has a market cap of $479.89 million, a P/E ratio of -3.07 and a beta of 1.10. The stock’s fifty day simple moving average is $1.51 and its two-hundred day simple moving average is $0.95. Sangamo Therapeutics has a twelve month low of $0.30 and a twelve month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. The company had revenue of $49.41 million during the quarter, compared to analyst estimates of $26.55 million. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. During the same quarter last year, the business posted ($0.34) earnings per share. As a group, equities research analysts predict that Sangamo Therapeutics will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System boosted 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 acquiring an additional 23,650 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Sangamo Therapeutics in the second quarter valued at approximately $67,000. Meritage Portfolio Management boosted its stake in Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 6,740 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Sangamo Therapeutics in the second quarter valued at approximately $89,000. Finally, XTX Topco Ltd boosted its stake in Sangamo Therapeutics by 167.8% in 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. 56.93% of the stock is owned by institutional investors.

Sangamo Therapeutics Company Profile

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.