HC Wainwright Boosts Sangamo Therapeutics (NASDAQ:SGMO) Price Target to $10.00

Sangamo Therapeutics (NASDAQ:SGMO) had its price objective lifted by research analysts at HC Wainwright from $5.00 to $10.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 449.45% from the company’s previous close.

Separately, StockNews.com started coverage on Sangamo Therapeutics in a report on Sunday, July 28th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Sangamo Therapeutics presently has an average rating of “Hold” and a consensus price target of $4.33.

Sangamo Therapeutics Stock Up 4.6 %

Shares of Sangamo Therapeutics stock opened at $1.82 on Tuesday. The business has a fifty day simple moving average of $1.00 and a 200-day simple moving average of $0.73. The firm has a market cap of $378.96 million, a price-to-earnings ratio of -1.32 and a beta of 1.10. Sangamo Therapeutics has a fifty-two week low of $0.29 and a fifty-two week high of $2.30.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Sangamo Therapeutics had a negative return on equity of 273.25% and a negative net margin of 2,033.69%. The business had revenue of $0.36 million during the quarter, compared to analyst estimates of $11.40 million. Analysts anticipate that Sangamo Therapeutics will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Sangamo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its holdings in shares of Sangamo Therapeutics by 61.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 23,650 shares during the period. Meritage Portfolio Management raised its holdings in shares of Sangamo Therapeutics by 8.6% during the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 6,740 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sangamo Therapeutics by 55.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 38,850 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Sangamo Therapeutics during the second quarter valued at $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Sangamo Therapeutics in the second quarter valued at about $89,000. 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.