Sangamo Therapeutics (NASDAQ:SGMO) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.71 and traded as high as $2.00. Sangamo Therapeutics shares last traded at $1.70, with a volume of 11,244,344 shares changing hands.

Analyst Ratings Changes

SGMO has been the subject of a number of research analyst reports. StockNews.com started coverage on shares of Sangamo Therapeutics in a research report on Sunday, July 28th. They set a “sell” rating for the company. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Sangamo Therapeutics in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.67.

Sangamo Therapeutics Price Performance

The firm has a market capitalization of $391.46 million, a price-to-earnings ratio of -1.36 and a beta of 1.09. The stock has a fifty day moving average of $1.00 and a two-hundred day moving average of $0.73.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $11.40 million. Sangamo Therapeutics had a negative net margin of 2,033.69% and a negative return on equity of 273.25%. On average, research analysts forecast that Sangamo Therapeutics, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its position 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 worth $42,000 after buying an additional 23,650 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Sangamo Therapeutics in the 2nd quarter valued at about $67,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sangamo Therapeutics in the 2nd quarter valued at about $89,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sangamo Therapeutics by 55.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 38,850 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Sangamo Therapeutics by 56.3% during the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 207,476 shares during the period. Institutional investors and hedge funds 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.