Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down – Time to Sell?

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $2.65, but opened at $2.54. Sangamo Therapeutics shares last traded at $2.74, with a volume of 816,461 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research note on Tuesday, December 10th. Truist Financial raised shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Friday. Finally, StockNews.com upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Sangamo Therapeutics Stock Up 4.5 %

The stock has a 50-day moving average price of $1.84 and a 200 day moving average price of $1.09. The firm has a market capitalization of $577.95 million, a price-to-earnings ratio of -3.52 and a beta of 1.15.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $49.41 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted ($0.34) EPS. As a group, equities analysts forecast that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Sangamo Therapeutics

A number of large investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Sangamo Therapeutics during the third quarter worth about $150,000. Geode Capital Management LLC boosted its position in 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 purchasing an additional 272,123 shares in the last quarter. XTX Topco Ltd grew its stake in Sangamo Therapeutics by 167.8% in the 3rd quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 64,981 shares during the last quarter. State Street Corp lifted its holdings in shares of 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 in the last quarter. Finally, FMR LLC grew its position in shares of Sangamo Therapeutics by 16.5% in the third quarter. FMR LLC now owns 544,003 shares of the biopharmaceutical company’s stock valued at $471,000 after purchasing an additional 77,032 shares during the last quarter. 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.