Sangamo Therapeutics (NASDAQ:SGMO) Rating Increased to Buy at StockNews.com

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

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

Sangamo Therapeutics Price Performance

NASDAQ:SGMO opened at $2.30 on Thursday. Sangamo Therapeutics has a 1-year low of $0.30 and a 1-year high of $3.18. The business’s 50-day moving average price is $1.51 and its two-hundred day moving average price is $0.95.

Sangamo Therapeutics (NASDAQ:SGMO) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating 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 firm had revenue of $49.41 million for the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. Analysts predict that Sangamo Therapeutics will post -0.52 earnings per share for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Large investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its holdings in shares of 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 worth $42,000 after acquiring an additional 23,650 shares in the last quarter. Meritage Portfolio Management grew its holdings in shares of Sangamo Therapeutics by 8.6% during the third 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 in the last quarter. XTX Topco Ltd grew its holdings in shares of Sangamo Therapeutics by 167.8% during the third 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Sangamo Therapeutics by 55.4% during 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. Finally, Virtu Financial LLC bought a new position in shares of Sangamo Therapeutics during the third quarter worth about $150,000. 56.93% of the stock is currently owned by institutional investors.

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.