Sangamo Therapeutics (NASDAQ:SGMO) Price Target Cut to $3.00 by Analysts at Jefferies Financial Group

Sangamo Therapeutics (NASDAQ:SGMO) had its price objective decreased by Jefferies Financial Group from $7.00 to $3.00 in a research note released on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently issued reports on SGMO. StockNews.com cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Barclays raised their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research note 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 report on Thursday, December 19th. Wells Fargo & Company lowered their target price 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. Finally, Truist Financial upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sangamo Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Sangamo Therapeutics Trading Down 56.4 %

Shares of NASDAQ SGMO opened at $1.02 on Tuesday. The firm has a market capitalization of $212.82 million, a P/E ratio of -1.36 and a beta of 1.15. The firm’s 50-day moving average price is $2.16 and its 200-day moving average price is $1.22. Sangamo Therapeutics has a 1-year low of $0.30 and a 1-year high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly 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. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The business had revenue of $49.41 million for the quarter, compared to the consensus estimate of $26.55 million. During the same period in the prior year, the business earned ($0.34) EPS. Equities research analysts forecast that Sangamo Therapeutics will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Sangamo Therapeutics by 58.8% in the 2nd 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Sangamo Therapeutics by 14.6% in the third quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after acquiring an additional 272,123 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Sangamo Therapeutics by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after acquiring an additional 57,125 shares during the last quarter. State Street Corp increased its position in shares of Sangamo Therapeutics by 28.0% during the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock valued at $576,000 after acquiring an additional 145,400 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Sangamo Therapeutics by 56.3% during the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 207,476 shares during the period. 56.93% of the stock is currently 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.