Barclays Forecasts Strong Price Appreciation for Sangamo Therapeutics (NASDAQ:SGMO) Stock

Sangamo Therapeutics (NASDAQ:SGMO) had its price objective lifted by Barclays from $3.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other brokerages have also weighed in on SGMO. HC Wainwright lifted their price objective on shares of Sangamo Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com began coverage on shares of Sangamo Therapeutics in a research note on Sunday, July 28th. They set a “sell” rating for the company.

Sangamo Therapeutics Trading Down 4.7 %

Shares of NASDAQ SGMO opened at $2.05 on Thursday. Sangamo Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $3.18. The business’s 50 day moving average price is $1.33 and its 200-day moving average price is $0.86.

Sangamo Therapeutics (NASDAQ:SGMO) last released its 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 business had revenue of $49.41 million for the quarter, compared to analyst estimates of $26.55 million. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. During the same quarter last year, the firm posted ($0.34) earnings per share. Analysts forecast that Sangamo Therapeutics will post -0.5 earnings per share for the current year.

Institutional Trading of Sangamo Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Sangamo Therapeutics during the 1st quarter valued at about $331,000. State Board of Administration of Florida Retirement System boosted its stake 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 valued at $42,000 after purchasing an additional 23,650 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Sangamo Therapeutics by 4.0% during the first quarter. Acadian Asset Management LLC now owns 4,943,260 shares of the biopharmaceutical company’s stock valued at $3,311,000 after buying an additional 192,385 shares during the period. Renaissance Technologies LLC increased its holdings in 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. Finally, Marshall Wace LLP raised its stake in Sangamo Therapeutics by 56.3% in the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 207,476 shares in the last quarter. 56.93% of the stock is owned by hedge funds and other 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.