Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Up – Here’s What Happened

by · The Markets Daily

Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $2.35, but opened at $2.72. Sangamo Therapeutics shares last traded at $2.55, with a volume of 10,559,955 shares trading hands.

Analysts Set New Price Targets

SGMO has been the topic of a number of research reports. Barclays increased their target price on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Truist Financial upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a research note on Thursday. Finally, StockNews.com raised Sangamo Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, December 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Read Our Latest Stock Analysis on Sangamo Therapeutics

Sangamo Therapeutics Trading Up 6.9 %

The company’s 50-day moving average is $1.94 and its two-hundred day moving average is $1.12. The stock has a market capitalization of $515.36 million, a P/E ratio of -3.29 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO – Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share 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 for the quarter, compared to analysts’ expectations of $26.55 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. Sell-side analysts expect that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGMO. Renaissance Technologies LLC increased its holdings in shares of Sangamo Therapeutics by 58.8% during the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after purchasing an additional 1,528,600 shares during the period. Geode Capital Management LLC grew its position in Sangamo Therapeutics by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after buying an additional 272,123 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sangamo Therapeutics during the 2nd quarter valued at about $89,000. Vontobel Holding Ltd. raised its position in shares of Sangamo Therapeutics by 412.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after buying an additional 241,440 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Sangamo Therapeutics by 56.3% in the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 207,476 shares during the period. Institutional investors and hedge funds own 56.93% of the company’s stock.

About Sangamo Therapeutics

(Get Free Report)

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.

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