Sangamo Therapeutics (NASDAQ:SGMO) Shares Up 10.9% – Still a Buy?

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s share price shot up 10.9% during trading on Thursday . The company traded as high as $2.75 and last traded at $2.74. 5,635,878 shares were traded during trading, a decline of 17% from the average session volume of 6,798,506 shares. The stock had previously closed at $2.47.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SGMO. HC Wainwright boosted their price objective on Sangamo Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com started coverage on Sangamo Therapeutics in a report on Sunday, July 28th. They issued a “sell” rating for the company.

Sangamo Therapeutics Trading Up 13.8 %

The stock has a fifty day simple moving average of $1.08 and a two-hundred day simple moving average of $0.77. The company has a market cap of $585.10 million, a PE ratio of -1.99 and a beta of 1.10.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Sangamo Therapeutics had a negative net margin of 2,033.69% and a negative return on equity of 273.25%. The business had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $11.40 million. As a group, equities research analysts anticipate that Sangamo Therapeutics, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Sangamo Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meritage Portfolio Management raised 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 purchasing an additional 6,740 shares during the last quarter. Golden State Equity Partners raised its position in shares of Sangamo Therapeutics by 35.2% during 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. Wealth Enhancement Advisory Services LLC raised 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 worth $94,000 after purchasing an additional 38,850 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Sangamo Therapeutics by 412.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after purchasing an additional 241,440 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Sangamo Therapeutics during the 2nd quarter worth approximately $67,000. 56.93% of the stock is currently owned by institutional investors and hedge funds.

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.