Sangamo Therapeutics (NASDAQ:SGMO) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.58 and traded as high as $0.69. Sangamo Therapeutics shares last traded at $0.64, with a volume of 3,959,993 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, September 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sangamo Therapeutics in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sangamo Therapeutics presently has an average rating of “Hold” and an average target price of $4.50.

Sangamo Therapeutics Stock Performance

The business’s fifty day simple moving average is $0.59 and its 200-day simple moving average is $0.58. The firm has a market capitalization of $194.45 million, a PE ratio of -2.22 and a beta of 1.22.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Sangamo Therapeutics had a negative net margin of 77.48% and a negative return on equity of 293.05%. The company had revenue of $18.31 million for the quarter, compared to analysts’ expectations of $31.68 million. Sell-side analysts expect that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SGMO. Wasatch Advisors LP grew its holdings in shares of Sangamo Therapeutics by 17.7% in the second quarter. Wasatch Advisors LP now owns 8,084,419 shares of the biopharmaceutical company’s stock valued at $4,376,000 after purchasing an additional 1,215,653 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Sangamo Therapeutics by 2,962.2% in the first quarter. GSA Capital Partners LLP now owns 966,202 shares of the biopharmaceutical company’s stock valued at $634,000 after purchasing an additional 934,649 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Sangamo Therapeutics by 74.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,297,785 shares of the biopharmaceutical company’s stock valued at $851,000 after purchasing an additional 555,323 shares in the last quarter. Luminus Management LLC purchased a new position in shares of Sangamo Therapeutics in the third quarter valued at $168,000. Finally, Invesco Ltd. boosted its stake in Sangamo Therapeutics by 82.8% during the first quarter. Invesco Ltd. now owns 483,894 shares of the biopharmaceutical company’s stock worth $317,000 after buying an additional 219,253 shares during the period. 56.92% of the stock is owned by hedge funds and other 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.