Sangamo Therapeutics (NASDAQ:SGMO) Price Target Lowered to $2.00 at Wells Fargo & Company

Sangamo Therapeutics (NASDAQ:SGMO) had its target price reduced by Wells Fargo & Company from $3.00 to $2.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on SGMO. Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Sangamo Therapeutics in a research report on Thursday, December 19th. Barclays increased their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, StockNews.com cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.50.

Sangamo Therapeutics Price Performance

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

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.07. The firm had revenue of $49.41 million for the quarter, compared to the consensus estimate of $26.55 million. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. During the same period last year, the company posted ($0.34) EPS. Equities analysts anticipate that Sangamo Therapeutics will post -0.46 EPS for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position 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 worth $1,479,000 after acquiring an additional 1,528,600 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Sangamo Therapeutics by 56.3% in the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 207,476 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Sangamo Therapeutics in the 2nd quarter valued at about $67,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sangamo Therapeutics in the 2nd quarter valued at about $89,000. Finally, Vontobel Holding Ltd. grew its holdings in Sangamo Therapeutics by 412.3% during the third 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 period. Institutional investors and hedge funds own 56.93% of the company’s stock.

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.