HC Wainwright Forecasts Strong Price Appreciation for Sangamo Therapeutics (NASDAQ:SGMO) Stock

Sangamo Therapeutics (NASDAQ:SGMO) had its target price lifted by analysts at HC Wainwright from $5.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 449.45% from the stock’s previous close.

Separately, StockNews.com began coverage on Sangamo Therapeutics in a research report on Sunday, July 28th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Sangamo Therapeutics currently has a consensus rating of “Hold” and an average price target of $4.33.

Sangamo Therapeutics Price Performance

NASDAQ SGMO opened at $1.82 on Tuesday. The business’s 50-day simple moving average is $1.00 and its 200-day simple moving average is $0.73. The firm has a market capitalization of $378.96 million, a P/E ratio of -1.32 and a beta of 1.10. Sangamo Therapeutics has a 1-year low of $0.29 and a 1-year high of $2.30.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The business had revenue of $0.36 million for the quarter, compared to analysts’ expectations of $11.40 million. Sangamo Therapeutics had a negative return on equity of 273.25% and a negative net margin of 2,033.69%. On average, equities research analysts expect that Sangamo Therapeutics will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Meritage Portfolio Management boosted its position in Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 6,740 shares during the period. Golden State Equity Partners increased its holdings in shares of Sangamo Therapeutics by 35.2% during the third quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 69,368 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sangamo Therapeutics by 55.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 38,850 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Sangamo Therapeutics by 412.3% in the third quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock worth $259,000 after purchasing an additional 241,440 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Sangamo Therapeutics during the 2nd quarter valued at about $67,000. 56.93% of the stock is owned by institutional investors.

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.