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

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

Other research analysts have also issued research reports about the company. Barclays lifted their price target on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a research report on Thursday.

Sangamo Therapeutics Stock Down 4.2 %

Sangamo Therapeutics stock traded down $0.09 during mid-day trading on Thursday, hitting $2.06. The company had a trading volume of 3,898,286 shares, compared to its average volume of 6,916,520. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The business has a fifty day moving average of $1.30 and a 200 day moving average of $0.85. The stock has a market cap of $429.76 million, a price-to-earnings ratio of -2.69 and a beta of 1.10.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of Sangamo Therapeutics by 61.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 23,650 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Sangamo Therapeutics in the second quarter valued at $67,000. Meritage Portfolio Management raised its stake 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 buying an additional 6,740 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sangamo Therapeutics in the 2nd quarter worth about $89,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in 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 acquiring an additional 38,850 shares during the last quarter. 56.93% of the stock is owned by hedge funds and other 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.