HC Wainwright Reiterates Buy Rating for Sangamo Therapeutics (NASDAQ:SGMO)

Sangamo Therapeutics (NASDAQ:SGMO)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $10.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 318.41% from the stock’s current price.

A number of other brokerages also recently weighed in on SGMO. Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Friday, December 13th. Barclays upped their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, StockNews.com raised Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Sangamo Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Sangamo Therapeutics Price Performance

Shares of SGMO traded up $0.04 on Thursday, hitting $2.39. The company’s stock had a trading volume of 15,886,307 shares, compared to its average volume of 6,890,820. The company has a 50 day moving average price of $1.91 and a 200 day moving average price of $1.11. Sangamo Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $3.18. The company has a market capitalization of $498.67 million, a PE ratio of -3.19 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.07. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The company had revenue of $49.41 million for the quarter, compared to analysts’ expectations of $26.55 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. On average, equities analysts forecast that Sangamo Therapeutics will post -0.46 EPS for the current year.

Institutional Trading of Sangamo Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in Sangamo Therapeutics by 58.8% in the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after purchasing an additional 1,528,600 shares during the last quarter. Marshall Wace LLP grew its position in shares of Sangamo Therapeutics by 56.3% during the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 207,476 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Sangamo Therapeutics in the 2nd quarter valued at approximately $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Sangamo Therapeutics during the 2nd quarter worth approximately $89,000. Finally, Vontobel Holding Ltd. increased its stake in Sangamo Therapeutics by 412.3% in the third quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 241,440 shares in 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.