Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down – Here’s Why

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s share price gapped down before the market opened on Monday . The stock had previously closed at $2.47, but opened at $2.34. Sangamo Therapeutics shares last traded at $2.53, with a volume of 1,295,990 shares changing hands.

Analyst Ratings Changes

Several analysts have recently issued reports on SGMO shares. Barclays increased their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a research note on Thursday. Finally, Truist Financial upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sangamo Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Sangamo Therapeutics Price Performance

The stock has a market cap of $515.36 million, a PE ratio of -3.29 and a beta of 1.15. The firm has a fifty day moving average of $1.97 and a 200 day moving average of $1.14.

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 analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $49.41 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted ($0.34) EPS. On average, equities research analysts forecast that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current fiscal year.

Institutional Trading of Sangamo Therapeutics

Institutional investors have recently modified their holdings of the stock. Meritage Portfolio Management lifted its position 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. Wealth Enhancement Advisory Services LLC lifted 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. boosted its position in shares of Sangamo Therapeutics by 5.5% in 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 purchasing an additional 57,125 shares during the period. XTX Topco Ltd grew its stake in Sangamo Therapeutics by 167.8% during the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 64,981 shares during the last quarter. Finally, Golden State Equity Partners increased its position in Sangamo Therapeutics by 35.2% during the third quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 69,368 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.