Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down – What’s Next?

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $2.70, but opened at $2.53. Sangamo Therapeutics shares last traded at $2.72, with a volume of 1,134,260 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. HC Wainwright raised their price target on shares of Sangamo Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com began coverage on shares of Sangamo Therapeutics in a research report on Sunday, July 28th. They issued a “sell” rating for the company.

Sangamo Therapeutics Stock Performance

The stock has a market capitalization of $585.10 million, a price-to-earnings ratio of -1.96 and a beta of 1.10. The firm’s 50 day moving average is $1.20 and its 200-day moving average is $0.82.

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 boosted its position in shares of Sangamo Therapeutics by 61.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 23,650 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Sangamo Therapeutics in the second quarter valued at about $67,000. 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 buying an additional 6,740 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sangamo Therapeutics in the second quarter valued at about $89,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Sangamo Therapeutics by 55.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 38,850 shares during the last quarter. 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.