Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Up – Here’s What Happened

Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) gapped up prior to trading on Thursday . The stock had previously closed at $2.35, but opened at $2.72. Sangamo Therapeutics shares last traded at $2.55, with a volume of 10,559,955 shares.

Wall Street Analysts Forecast Growth

SGMO has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research note on Tuesday, December 10th. StockNews.com upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Friday, December 13th. Finally, Barclays lifted their price target on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One research analyst has 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 target price of $7.00.

Sangamo Therapeutics Stock Up 3.4 %

The firm has a market capitalization of $507.01 million, a price-to-earnings ratio of -3.24 and a beta of 1.15. The company has a 50-day moving average price of $1.91 and a 200-day moving average price of $1.11.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07. The business had revenue of $49.41 million for the quarter, compared to analysts’ expectations of $26.55 million. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. During the same period in the previous year, the company posted ($0.34) EPS. As a group, analysts forecast that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in shares of Sangamo Therapeutics by 58.8% during the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock worth $1,479,000 after acquiring an additional 1,528,600 shares during the period. Geode Capital Management LLC increased its holdings in Sangamo Therapeutics by 14.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock worth $1,853,000 after purchasing an additional 272,123 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sangamo Therapeutics during the 2nd quarter worth approximately $89,000. Vontobel Holding Ltd. increased its stake in shares of Sangamo Therapeutics by 412.3% in the third quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock valued at $259,000 after buying an additional 241,440 shares during the period. Finally, Marshall Wace LLP grew its stake in 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 during the period. 56.93% of the stock is currently owned by institutional investors.

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.