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

StockNews.com upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a hold rating to a buy rating in a report published on Thursday.

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

Sangamo Therapeutics Stock Performance

SGMO opened at $2.30 on Thursday. The business has a 50 day moving average price of $1.51 and a 200 day moving average price of $0.95. Sangamo Therapeutics has a twelve month low of $0.30 and a twelve month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.07. The company had revenue of $49.41 million for the quarter, compared to the consensus estimate of $26.55 million. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. During the same period in the previous year, the business posted ($0.34) EPS. On average, research analysts expect that Sangamo Therapeutics will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SGMO. State Board of Administration of Florida Retirement System lifted its stake in shares of Sangamo Therapeutics by 61.1% during the first 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 period. Meritage Portfolio Management lifted its stake 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 valued at $74,000 after acquiring an additional 6,740 shares during the period. XTX Topco Ltd lifted its stake 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 valued at $90,000 after acquiring an additional 64,981 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $94,000 after acquiring an additional 38,850 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Sangamo Therapeutics during the third quarter valued at $150,000. Institutional investors and hedge funds own 56.93% of the company’s stock.

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.