Sangamo Therapeutics (NASDAQ:SGMO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a sell rating to a hold rating in a report published on Thursday morning.

Several other brokerages also recently issued reports on SGMO. Barclays upped 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. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research note on Thursday.

Sangamo Therapeutics Stock Performance

SGMO stock traded down $0.09 during trading on Thursday, hitting $2.06. The stock had a trading volume of 3,898,286 shares, compared to its average volume of 6,916,520. The stock has a market cap of $429.76 million, a price-to-earnings ratio of -2.69 and a beta of 1.10. The company’s 50 day moving average price is $1.30 and its two-hundred day moving average price is $0.85. Sangamo Therapeutics has a 1-year low of $0.30 and a 1-year high of $3.18.

Institutional Trading of Sangamo Therapeutics

A number of institutional investors have recently modified their holdings of SGMO. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sangamo Therapeutics during the first quarter worth approximately $331,000. State Board of Administration of Florida Retirement System boosted its position in Sangamo Therapeutics by 61.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 23,650 shares during the period. Acadian Asset Management LLC increased its holdings in Sangamo Therapeutics by 4.0% in the 1st quarter. Acadian Asset Management LLC now owns 4,943,260 shares of the biopharmaceutical company’s stock valued at $3,311,000 after purchasing an additional 192,385 shares in the last quarter. Renaissance Technologies LLC raised its position in Sangamo Therapeutics by 58.8% in 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. Finally, Marshall Wace LLP lifted its stake in shares of Sangamo Therapeutics by 56.3% during the second 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 in the last quarter. Hedge funds and other institutional investors 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.