Sangamo Therapeutics (NASDAQ:SGMO) Shares Down 6.3% – Here’s Why

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s share price fell 6.3% during trading on Monday . The company traded as low as $2.34 and last traded at $2.40. 1,574,041 shares were traded during mid-day trading, a decline of 77% from the average session volume of 6,876,316 shares. The stock had previously closed at $2.56.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Friday, December 13th. StockNews.com downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Jefferies Financial Group cut their target price on shares of Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays raised their price target 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. Finally, Wells Fargo & Company cut their price objective on Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Sangamo Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Sangamo Therapeutics Stock Down 56.4 %

The firm has a market capitalization of $212.82 million, a PE ratio of -1.36 and a beta of 1.15. The business has a 50-day moving average price of $2.15 and a 200-day moving average price of $1.23.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $26.55 million. During the same period last year, the company earned ($0.34) EPS. On average, equities research analysts anticipate that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Meritage Portfolio Management lifted its stake in 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 purchasing an additional 6,740 shares in the last quarter. XTX Topco Ltd boosted its holdings in Sangamo Therapeutics by 167.8% during the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 64,981 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Sangamo Therapeutics by 55.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 38,850 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Sangamo Therapeutics during the third quarter worth about $150,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Sangamo Therapeutics in the second quarter valued at approximately $67,000. 56.93% of the stock is owned by hedge funds and other institutional investors.

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.