Truist Financial Lowers Sangamo Therapeutics (NASDAQ:SGMO) Price Target to $5.00

Sangamo Therapeutics (NASDAQ:SGMO) had its price target decreased by equities research analysts at Truist Financial from $7.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective points to a potential upside of 332.90% from the company’s current price.

SGMO has been the subject of a number of other reports. Jefferies Financial Group reduced their price target on shares of Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, December 31st. Barclays boosted their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. StockNews.com cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. 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 report on Tuesday, December 31st. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

Sangamo Therapeutics Stock Performance

Shares of SGMO stock traded up $0.01 on Thursday, hitting $1.16. The company had a trading volume of 1,100,574 shares, compared to its average volume of 6,570,876. The stock’s 50-day moving average is $1.84 and its two-hundred day moving average is $1.31. The firm has a market cap of $240.99 million, a P/E ratio of -1.54 and a beta of 1.29. Sangamo Therapeutics has a twelve month low of $0.30 and a twelve month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. The business had revenue of $49.41 million for the quarter, compared to analyst estimates of $26.55 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share. Equities research analysts predict that Sangamo Therapeutics will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position 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 acquiring an additional 1,528,600 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Sangamo Therapeutics by 56.3% during the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 207,476 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Sangamo Therapeutics in the 2nd quarter worth about $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Sangamo Therapeutics during the second quarter valued at about $89,000. Finally, Vontobel Holding Ltd. increased its holdings in Sangamo Therapeutics by 412.3% during the third 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 during the last quarter. Hedge funds and other institutional investors own 56.93% of the company’s stock.

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.