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

Sangamo Therapeutics (NASDAQ:SGMO) had its target price trimmed by Wells Fargo & Company from $3.00 to $2.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. Barclays raised their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Friday, December 13th. StockNews.com cut shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Sangamo Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Sangamo Therapeutics Trading Up 10.8 %

SGMO stock opened at $1.13 on Tuesday. The firm has a 50-day moving average price of $2.14 and a 200-day moving average price of $1.22. The stock has a market capitalization of $235.77 million, a P/E ratio of -1.51 and a beta of 1.15. Sangamo Therapeutics has a 12 month low of $0.30 and a 12 month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating 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 company had revenue of $49.41 million during the quarter, compared to analysts’ expectations of $26.55 million. During the same period in the prior year, the company earned ($0.34) EPS. As a group, equities analysts predict that Sangamo Therapeutics will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meritage Portfolio Management lifted its stake in Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 6,740 shares during the period. XTX Topco Ltd increased its stake in shares of Sangamo Therapeutics by 167.8% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Sangamo Therapeutics by 55.4% during 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 during the period. Virtu Financial LLC bought a new stake in Sangamo Therapeutics in the third quarter valued at $150,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Sangamo Therapeutics in the 2nd quarter valued at about $67,000. 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.