StockNews.com Upgrades Sangamo Therapeutics (NASDAQ:SGMO) to “Buy”

Sangamo Therapeutics (NASDAQ:SGMO) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other equities research analysts have also recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a research report on Thursday, November 14th. Barclays boosted their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th.

Sangamo Therapeutics Price Performance

Shares of NASDAQ SGMO traded up $0.16 during midday trading on Thursday, reaching $2.30. 5,157,035 shares of the stock were exchanged, compared to its average volume of 6,892,255. The business has a 50-day simple moving average of $1.51 and a two-hundred day simple moving average of $0.95. The company has a market capitalization of $479.89 million, a price-to-earnings ratio of -3.07 and a beta of 1.10. Sangamo Therapeutics has a 12 month low of $0.30 and a 12 month high of $3.18.

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

Institutional Investors Weigh In On Sangamo Therapeutics

Several institutional investors have recently added to or reduced their stakes in SGMO. State Board of Administration of Florida Retirement System lifted its position in Sangamo Therapeutics by 61.1% in the 1st 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 in the last quarter. Renaissance Technologies LLC increased its stake in Sangamo Therapeutics by 58.8% in the 2nd 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 last quarter. Marshall Wace LLP increased its stake in Sangamo Therapeutics by 56.3% in the 2nd 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 last quarter. Cubist Systematic Strategies LLC acquired a new stake in Sangamo Therapeutics in the 2nd quarter valued at $67,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sangamo Therapeutics in the 2nd quarter valued at $89,000. 56.93% of the stock is owned by 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.