StockNews.com Begins Coverage on Sangamo Therapeutics (NASDAQ:SGMO)

Analysts at StockNews.com assumed coverage on shares of Sangamo Therapeutics (NASDAQ:SGMOGet Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other brokerages have also commented on SGMO. Royal Bank of Canada reissued a “sector perform” rating and issued a $2.00 price target (down previously from $6.00) on shares of Sangamo Therapeutics in a report on Friday, November 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $1.00 target price on shares of Sangamo Therapeutics in a research note on Monday, November 6th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Sangamo Therapeutics in a research note on Monday. Finally, Truist Financial reaffirmed a “hold” rating on shares of Sangamo Therapeutics in a research note on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.68.

Get Our Latest Report on SGMO

Sangamo Therapeutics Stock Performance

Shares of NASDAQ SGMO opened at $0.81 on Tuesday. The firm has a market cap of $142.76 million, a PE ratio of -0.56 and a beta of 1.04. The firm has a fifty day moving average of $0.48 and a 200 day moving average of $0.63. Sangamo Therapeutics has a one year low of $0.29 and a one year high of $3.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP raised its holdings in Sangamo Therapeutics by 25.0% in the 2nd quarter. Wasatch Advisors LP now owns 17,052,440 shares of the biopharmaceutical company’s stock valued at $22,168,000 after buying an additional 3,410,023 shares during the period. Acadian Asset Management LLC increased its stake in Sangamo Therapeutics by 502.7% during the second quarter. Acadian Asset Management LLC now owns 2,821,980 shares of the biopharmaceutical company’s stock worth $3,665,000 after purchasing an additional 2,353,741 shares during the period. BlackRock Inc. increased its stake in Sangamo Therapeutics by 15.4% during the third quarter. BlackRock Inc. now owns 14,264,458 shares of the biopharmaceutical company’s stock worth $69,894,000 after purchasing an additional 1,898,292 shares during the period. State Street Corp increased its stake in Sangamo Therapeutics by 25.3% during the first quarter. State Street Corp now owns 7,775,327 shares of the biopharmaceutical company’s stock worth $45,175,000 after purchasing an additional 1,570,740 shares during the period. Finally, Vanguard Group Inc. increased its stake in Sangamo Therapeutics by 10.5% during the third quarter. Vanguard Group Inc. now owns 12,731,109 shares of the biopharmaceutical company’s stock worth $62,383,000 after purchasing an additional 1,205,951 shares during the period. Institutional investors and hedge funds own 59.81% of the company’s stock.

About Sangamo Therapeutics

(Get Free Report)

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.

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