Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Short Interest Update

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 13,390,000 shares, a decline of 29.5% from the October 31st total of 18,980,000 shares. Based on an average daily volume of 7,230,000 shares, the days-to-cover ratio is presently 1.9 days.

Sangamo Therapeutics Stock Performance

NASDAQ SGMO traded down $0.04 during trading hours on Friday, hitting $2.26. The company had a trading volume of 3,004,315 shares, compared to its average volume of 6,875,489. Sangamo Therapeutics has a 1-year low of $0.30 and a 1-year high of $3.18. The company has a market cap of $471.55 million, a PE ratio of -3.07 and a beta of 1.10. The business has a 50 day moving average of $1.54 and a 200-day moving average of $0.96.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its 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 net margin of 257.87% and a negative return on equity of 264.16%. The business 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 firm earned ($0.34) earnings per share. Sell-side analysts expect that Sangamo Therapeutics will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew 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 worth $1,479,000 after buying an additional 1,528,600 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sangamo Therapeutics by 14.6% during the third quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock worth $1,853,000 after buying an additional 272,123 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Sangamo Therapeutics by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after purchasing an additional 57,125 shares during the period. State Street Corp lifted its position in Sangamo Therapeutics by 28.0% in the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock valued at $576,000 after purchasing an additional 145,400 shares during the period. Finally, Marshall Wace LLP lifted its position in Sangamo Therapeutics by 56.3% in the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 207,476 shares during the period. Hedge funds and other institutional investors own 56.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, November 14th. Barclays boosted their target price on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday.

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.