Sangamo Therapeutics (NASDAQ:SGMO) Given New $5.00 Price Target at Truist Financial

Sangamo Therapeutics (NASDAQ:SGMO) had its price objective reduced by Truist Financial from $7.00 to $5.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on SGMO. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on 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. Jefferies Financial Group dropped their price target 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. Barclays raised their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, StockNews.com downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Sangamo Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $5.17.

Sangamo Therapeutics Stock Performance

Shares of NASDAQ:SGMO opened at $1.19 on Thursday. The business has a fifty day moving average price of $1.82 and a 200-day moving average price of $1.31. Sangamo Therapeutics has a 1-year low of $0.30 and a 1-year high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07. The company had revenue of $49.41 million for 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 last year, the firm posted ($0.34) earnings per share. As a group, equities analysts anticipate that Sangamo Therapeutics will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SGMO. Meritage Portfolio Management lifted its stake in Sangamo Therapeutics by 8.6% in the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 6,740 shares in the last quarter. Shelton Wealth Management LLC bought a new stake in shares of Sangamo Therapeutics in the fourth quarter worth about $29,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Sangamo Therapeutics by 55.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 38,850 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 buying an additional 57,125 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in Sangamo Therapeutics by 167.8% in the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 64,981 shares during the last quarter. 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.