StockNews.com Initiates Coverage on Sangamo Therapeutics (NASDAQ:SGMO)

Equities research analysts at StockNews.com started coverage on shares of Sangamo Therapeutics (NASDAQ:SGMO) in a note issued to investors on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Sangamo Therapeutics in a research report on Wednesday, May 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $2.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Sangamo Therapeutics has a consensus rating of “Hold” and an average target price of $5.67.

Sangamo Therapeutics Stock Performance

NASDAQ:SGMO opened at $0.40 on Wednesday. The company has a fifty day moving average of $0.54 and a two-hundred day moving average of $0.62. The stock has a market capitalization of $82.71 million, a PE ratio of -0.21 and a beta of 1.35. Sangamo Therapeutics has a fifty-two week low of $0.29 and a fifty-two week high of $1.67.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). The company had revenue of $0.48 million for the quarter, compared to analyst estimates of $8.51 million. Sangamo Therapeutics had a negative return on equity of 182.55% and a negative net margin of 1,749.06%. During the same quarter in the prior year, the company posted $0.12 earnings per share. Research analysts forecast that Sangamo Therapeutics will post -0.55 earnings per share for the current year.

Institutional Trading of Sangamo Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in Sangamo Therapeutics by 72.4% during the fourth quarter. Mackenzie Financial Corp now owns 73,799 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 31,003 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Sangamo Therapeutics by 61.1% during the first 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 in the last quarter. SG Americas Securities LLC raised its holdings in Sangamo Therapeutics by 103.9% during the fourth quarter. SG Americas Securities LLC now owns 180,544 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 92,002 shares in the last quarter. Golden State Equity Partners raised its holdings in Sangamo Therapeutics by 21.0% during the fourth quarter. Golden State Equity Partners now owns 201,225 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 34,960 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sangamo Therapeutics during the first quarter worth approximately $331,000. Institutional investors and hedge funds 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.