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

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

Other equities analysts also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, December 19th. Barclays lifted their price objective 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. 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. Finally, StockNews.com cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Sangamo Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Sangamo Therapeutics Trading Up 10.8 %

Sangamo Therapeutics stock opened at $1.13 on Tuesday. The business’s 50 day simple moving average is $2.14 and its 200 day simple moving average is $1.22. Sangamo Therapeutics has a 12 month low of $0.30 and a 12 month high of $3.18. The company has a market cap of $235.77 million, a price-to-earnings ratio of -1.51 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $26.55 million. During the same quarter in the prior year, the company earned ($0.34) EPS. As a group, equities research analysts forecast that Sangamo Therapeutics will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Sangamo Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Meritage Portfolio Management grew its position in shares of Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 6,740 shares in the last quarter. XTX Topco Ltd boosted its stake in Sangamo Therapeutics by 167.8% during the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 64,981 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in 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 buying an additional 38,850 shares in the last quarter. Virtu Financial LLC bought a new position in Sangamo Therapeutics in the 3rd quarter worth about $150,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Sangamo Therapeutics in the 2nd quarter valued at about $67,000. 56.93% of the stock is currently 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.