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

Sangamo Therapeutics (NASDAQ:SGMO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $10.00 price objective on the biopharmaceutical company’s stock.

SGMO has been the topic of several other reports. Wall Street Zen lowered Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Barclays decreased their target price on Sangamo Therapeutics from $9.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $2.00 price target on shares of Sangamo Therapeutics in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Sangamo Therapeutics Trading Up 14.4%

NASDAQ:SGMO traded up $0.06 during trading hours on Tuesday, hitting $0.49. 16,423,886 shares of the company were exchanged, compared to its average volume of 8,970,564. The company has a fifty day simple moving average of $0.58 and a 200 day simple moving average of $1.00. Sangamo Therapeutics has a one year low of $0.30 and a one year high of $3.18. The stock has a market capitalization of $115.19 million, a price-to-earnings ratio of -1.27 and a beta of 1.20.

Sangamo Therapeutics (NASDAQ:SGMO) last released its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $6.44 million for the quarter, compared to analyst estimates of $7.90 million. Sangamo Therapeutics had a negative net margin of 124.61% and a negative return on equity of 345.98%. Equities research analysts predict that Sangamo Therapeutics will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. E Fund Management Co. Ltd. bought a new position in Sangamo Therapeutics during the 4th quarter valued at $25,000. JPMorgan Chase & Co. lifted its position in shares of Sangamo Therapeutics by 679.5% during the fourth quarter. JPMorgan Chase & Co. now owns 25,000 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 21,793 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Sangamo Therapeutics by 2,319.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 26,078 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 25,000 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Sangamo Therapeutics in the 4th quarter worth about $28,000. Finally, Captrust Financial Advisors purchased a new stake in Sangamo Therapeutics in the 4th quarter valued at about $30,000. 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.