Sangamo Therapeutics (NASDAQ:SGMO) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Sangamo Therapeutics (NASDAQ:SGMO) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $10.00 price target on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on the company. Barclays reissued an “equal weight” rating and set a $1.00 target price (down previously from $5.00) on shares of Sangamo Therapeutics in a research note on Friday, November 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Sangamo Therapeutics in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Sangamo Therapeutics to a “strong sell” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.33.

Sangamo Therapeutics Price Performance

Shares of NASDAQ:SGMO opened at $0.39 on Tuesday. Sangamo Therapeutics has a 1 year low of $0.35 and a 1 year high of $1.24. The stock has a market capitalization of $131.23 million, a price-to-earnings ratio of -0.89 and a beta of 1.28. The company’s 50 day simple moving average is $0.44 and its 200 day simple moving average is $0.51.

Institutional Trading of Sangamo Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Meritage Portfolio Management raised its holdings in Sangamo Therapeutics by 37.3% during the 2nd quarter. Meritage Portfolio Management now owns 127,000 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 34,500 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Sangamo Therapeutics during the second quarter worth $102,000. R Squared Ltd bought a new stake in Sangamo Therapeutics during the second quarter valued at $28,000. Wealth Management Associates Inc. grew its holdings in Sangamo Therapeutics by 34.8% during the 2nd quarter. Wealth Management Associates Inc. now owns 307,800 shares of the biopharmaceutical company’s stock worth $167,000 after acquiring an additional 79,400 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Sangamo Therapeutics by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,332,279 shares of the biopharmaceutical company’s stock worth $1,263,000 after acquiring an additional 48,829 shares in the last quarter. 56.92% of the stock is currently owned by institutional investors.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Brisbane, California, that specializes in the development of genomic therapies based on its proprietary zinc finger nuclease (ZFN) technology. Founded in 1995, Sangamo pioneered ZFN-based genome editing to precisely alter DNA sequences for the treatment of serious genetic and rare diseases. The company’s platform encompasses in vivo genome editing, ex vivo cell therapy, and genome regulation approaches, with a focus on durable therapeutic effects through permanent genetic modification or sustained gene expression control.

Through its genome editing programs, Sangamo is advancing multiple product candidates into clinical trials for conditions such as hemophilia A and B, mucopolysaccharidosis types I and II, and lysosomal storage disorders.