Assenagon Asset Management S.A. Invests $193,000 in Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

Assenagon Asset Management S.A. bought a new stake in shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 293,949 shares of the biopharmaceutical company’s stock, valued at approximately $193,000. Assenagon Asset Management S.A. owned approximately 0.13% of Sangamo Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SGMO. E Fund Management Co. Ltd. acquired a new stake in Sangamo Therapeutics during the 4th quarter worth $25,000. JPMorgan Chase & Co. boosted its position in shares of Sangamo Therapeutics by 679.5% during the 4th quarter. JPMorgan Chase & Co. now owns 25,000 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 21,793 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Sangamo Therapeutics by 2,319.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 26,078 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 25,000 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Sangamo Therapeutics during the 4th quarter valued at approximately $28,000. Finally, Captrust Financial Advisors purchased a new position in Sangamo Therapeutics in the fourth quarter worth approximately $30,000. 56.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays cut their price objective on Sangamo Therapeutics from $9.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a research report on Monday, April 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $2.00 price objective on shares of Sangamo Therapeutics in a report on Tuesday, March 18th. Finally, Wall Street Zen downgraded Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Sangamo Therapeutics currently has an average rating of “Hold” and an average target price of $4.50.

Sangamo Therapeutics Trading Down 6.8%

Shares of SGMO opened at $0.46 on Friday. The firm has a market capitalization of $106.68 million, a price-to-earnings ratio of -1.17 and a beta of 1.19. The firm’s fifty day simple moving average is $0.59 and its 200-day simple moving average is $1.03. Sangamo Therapeutics, Inc. has a twelve month low of $0.30 and a twelve month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The business had revenue of $6.44 million during the quarter, compared to analyst estimates of $7.90 million. Sangamo Therapeutics had a negative net margin of 124.61% and a negative return on equity of 345.98%. On average, analysts predict that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

Sangamo Therapeutics 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.