Short Interest in Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Declines By 29.5%

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 13,390,000 shares, a decline of 29.5% from the October 31st total of 18,980,000 shares. Based on an average trading volume of 7,230,000 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays increased their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday.

Sangamo Therapeutics Stock Performance

Shares of NASDAQ SGMO traded down $0.04 during trading hours on Friday, hitting $2.26. The stock had a trading volume of 3,004,315 shares, compared to its average volume of 6,875,489. The firm’s 50-day moving average price is $1.57 and its two-hundred day moving average price is $0.97. Sangamo Therapeutics has a 52 week low of $0.30 and a 52 week high of $3.18. The company has a market capitalization of $471.55 million, a P/E ratio of -3.01 and a beta of 1.10.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its 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 during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted ($0.34) earnings per share. As a group, analysts expect that Sangamo Therapeutics will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its holdings in shares of Sangamo Therapeutics by 61.1% during 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 during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Sangamo Therapeutics during the second quarter valued at approximately $67,000. Meritage Portfolio Management raised its position in shares of Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 6,740 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sangamo Therapeutics in the second quarter worth $89,000. Finally, XTX Topco Ltd boosted its holdings in shares of Sangamo Therapeutics by 167.8% during the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 64,981 shares during the period. 56.93% of the stock is currently owned by institutional investors.

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.