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

HC Wainwright reissued their buy rating on shares of Sangamo Therapeutics (NASDAQ:SGMO) in a report issued on Thursday morning,Benzinga reports. HC Wainwright currently has a $10.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on SGMO. Truist Financial raised 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. StockNews.com cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Wells Fargo & Company reduced their price objective on Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 31st. 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. Finally, Jefferies Financial Group reduced their price objective on Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, December 31st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sangamo Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Sangamo Therapeutics Stock Up 15.0 %

NASDAQ:SGMO opened at $1.30 on Thursday. The business’s 50-day simple moving average is $2.13 and its two-hundred day simple moving average is $1.24. The stock has a market cap of $271.24 million, a PE ratio of -1.73 and a beta of 1.15. Sangamo Therapeutics has a 52 week low of $0.30 and a 52 week high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) 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 firm had revenue of $49.41 million for the quarter, compared to analysts’ expectations of $26.55 million. During the same period in the previous year, the firm posted ($0.34) earnings per share. Sell-side analysts anticipate that Sangamo Therapeutics will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in shares of Sangamo Therapeutics by 58.8% during the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after buying an additional 1,528,600 shares during the period. Marshall Wace LLP boosted its position in shares of Sangamo Therapeutics by 56.3% during the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 207,476 shares during the period. XTX Topco Ltd boosted its position 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 buying an additional 64,981 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position 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 buying an additional 38,850 shares during the period. Finally, State Street Corp boosted its position in shares of Sangamo Therapeutics by 28.0% during the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock valued at $576,000 after buying an additional 145,400 shares during the period. 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.