Sangamo Therapeutics (NASDAQ:SGMO) Stock Price Up 25.5% – Here’s Why

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s share price traded up 25.5% during mid-day trading on Monday . The company traded as high as $2.59 and last traded at $2.57. 4,776,585 shares were traded during trading, a decline of 29% from the average session volume of 6,772,263 shares. The stock had previously closed at $2.05.

Analyst Upgrades and Downgrades

SGMO has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research report on Tuesday, December 10th. Truist Financial upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Friday, December 13th. Barclays upped their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Sangamo Therapeutics Stock Up 6.6 %

The firm has a market capitalization of $588.38 million, a price-to-earnings ratio of -3.76 and a beta of 1.15. The business has a 50-day moving average of $1.88 and a two-hundred day moving average of $1.10.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping 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 company had revenue of $49.41 million for the quarter, compared to analyst estimates of $26.55 million. During the same quarter last year, the firm earned ($0.34) EPS. Equities analysts predict that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Sangamo Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Meritage Portfolio Management lifted its position in shares of Sangamo Therapeutics by 8.6% during the 3rd 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 during the period. Wealth Enhancement Advisory Services LLC lifted 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 valued at $94,000 after acquiring an additional 38,850 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Sangamo Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after purchasing an additional 57,125 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Sangamo Therapeutics by 167.8% in the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 64,981 shares during the last quarter. Finally, Golden State Equity Partners grew its holdings in shares of Sangamo Therapeutics by 35.2% in the 3rd quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 69,368 shares during the last quarter. 56.93% of the stock is owned by institutional investors and hedge funds.

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.