Royal Bank of Canada Reaffirms Sector Perform Rating for Sangamo Therapeutics (NASDAQ:SGMO)

Sangamo Therapeutics (NASDAQ:SGMO)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $2.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 134.19% from the company’s previous close.

A number of other brokerages have also recently commented on SGMO. Wells Fargo & Company lowered their price objective on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 31st. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Sangamo Therapeutics in a report on Monday, January 27th. StockNews.com downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Jefferies Financial Group decreased their price target on shares of Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, December 31st. Finally, Truist Financial cut their target price on Sangamo Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sangamo Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $5.17.

Sangamo Therapeutics Stock Down 15.4 %

NASDAQ SGMO traded down $0.16 on Tuesday, hitting $0.85. 6,237,729 shares of the stock were exchanged, compared to its average volume of 7,613,174. Sangamo Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $3.18. The company has a market cap of $178.18 million, a PE ratio of -1.14 and a beta of 1.49. The company has a 50-day moving average price of $1.10 and a 200-day moving average price of $1.41.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The business had revenue of $7.55 million during the quarter, compared to analysts’ expectations of $11.70 million. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. As a group, equities research analysts predict that Sangamo Therapeutics will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Sangamo Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Sangamo Therapeutics by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after purchasing an additional 57,125 shares during the period. FMR LLC lifted its stake in Sangamo Therapeutics by 16.5% in the third quarter. FMR LLC now owns 544,003 shares of the biopharmaceutical company’s stock valued at $471,000 after buying an additional 77,032 shares during the period. State Street Corp increased its holdings in shares of Sangamo Therapeutics by 28.0% in the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock worth $576,000 after acquiring an additional 145,400 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Sangamo Therapeutics by 167.8% in the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 64,981 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Sangamo Therapeutics by 14.6% during the third quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock worth $1,853,000 after buying an additional 272,123 shares in the last quarter. 56.93% of the stock is currently owned by institutional investors and hedge funds.

Sangamo Therapeutics Company 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.