Sangamo Therapeutics Target of Unusually High Options Trading (NASDAQ:SGMO)

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) saw some unusual options trading on Wednesday. Traders purchased 23,134 call options on the stock. This represents an increase of approximately 432% compared to the typical daily volume of 4,347 call options.

Wall Street Analysts Forecast Growth

SGMO has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 31st. StockNews.com cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Barclays boosted their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Truist Financial decreased their price target on Sangamo Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sangamo Therapeutics has an average rating of “Moderate Buy” and an average target price of $5.17.

Sangamo Therapeutics Stock Performance

NASDAQ SGMO traded up $0.01 during trading hours on Wednesday, reaching $1.01. The stock had a trading volume of 5,372,416 shares, compared to its average volume of 7,559,413. Sangamo Therapeutics has a 52-week low of $0.30 and a 52-week high of $3.18. The stock has a market cap of $209.69 million, a P/E ratio of -1.34 and a beta of 1.49. The stock has a fifty day moving average of $1.12 and a 200 day moving average of $1.40.

Hedge Funds Weigh In On Sangamo Therapeutics

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd lifted its holdings in Sangamo Therapeutics by 167.8% in the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 64,981 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sangamo Therapeutics by 14.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after purchasing an additional 272,123 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sangamo Therapeutics by 55.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 38,850 shares in the last quarter. State Street Corp boosted its holdings in Sangamo Therapeutics by 28.0% during the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock worth $576,000 after buying an additional 145,400 shares in the last quarter. Finally, Golden State Equity Partners grew its position in Sangamo Therapeutics by 2,592.3% during the fourth quarter. Golden State Equity Partners now owns 325,684 shares of the biopharmaceutical company’s stock valued at $332,000 after buying an additional 313,587 shares during the period. Hedge funds and other institutional investors own 56.93% of the company’s stock.

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.