HC Wainwright Has Negative Forecast for SGMO FY2024 Earnings

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) – Research analysts at HC Wainwright decreased their FY2024 earnings per share estimates for shares of Sangamo Therapeutics in a note issued to investors on Monday, January 27th. HC Wainwright analyst P. Trucchio now forecasts that the biopharmaceutical company will post earnings per share of ($0.49) for the year, down from their prior estimate of ($0.43). HC Wainwright currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Sangamo Therapeutics’ current full-year earnings is ($0.47) per share. HC Wainwright also issued estimates for Sangamo Therapeutics’ Q4 2024 earnings at ($0.11) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at $0.01 EPS, FY2025 earnings at ($0.08) EPS, FY2026 earnings at ($0.17) EPS, FY2027 earnings at ($0.02) EPS, FY2028 earnings at $0.19 EPS and FY2029 earnings at $0.42 EPS.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $49.41 million during the quarter, compared to the consensus estimate of $26.55 million. During the same period in the previous year, the firm posted ($0.34) EPS.

SGMO has been the subject of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 31st. Barclays upped 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. StockNews.com downgraded Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Jefferies Financial Group dropped their target price on Sangamo Therapeutics from $7.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, December 31st. Finally, Truist Financial decreased their price target on Sangamo Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.17.

Sangamo Therapeutics Price Performance

Shares of SGMO opened at $1.13 on Wednesday. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The stock has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $1.33.

Institutional Investors Weigh In On Sangamo Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SGMO. Shelton Wealth Management LLC purchased a new position in shares of Sangamo Therapeutics during the fourth quarter valued at approximately $29,000. Sageworth Trust Co bought a new stake in Sangamo Therapeutics in the fourth quarter valued at $61,000. Cubist Systematic Strategies LLC purchased a new position in Sangamo Therapeutics during the 2nd quarter valued at $67,000. Meritage Portfolio Management raised its holdings in Sangamo Therapeutics by 8.6% in the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 6,740 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sangamo Therapeutics in the 2nd quarter worth about $89,000. 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.