Wells Fargo & Company Issues Pessimistic Forecast for Sangamo Therapeutics (NASDAQ:SGMO) Stock Price

Sangamo Therapeutics (NASDAQ:SGMO) had its price target dropped by stock analysts at Wells Fargo & Company from $3.00 to $2.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 96.08% from the stock’s previous close.

A number of other equities research analysts also recently commented on SGMO. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a report on Thursday, December 19th. Truist Financial upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Friday, December 13th. StockNews.com cut shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, Barclays upped their price target on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Sangamo Therapeutics Trading Down 56.4 %

NASDAQ:SGMO opened at $1.02 on Tuesday. Sangamo Therapeutics has a twelve month low of $0.30 and a twelve month high of $3.18. The company has a market capitalization of $212.82 million, a P/E ratio of -1.36 and a beta of 1.15. The firm has a 50-day moving average price of $2.14 and a two-hundred day moving average price of $1.22.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. The firm had revenue of $49.41 million for the quarter, compared to analysts’ expectations of $26.55 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. On average, equities research analysts predict that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SGMO. Renaissance Technologies LLC boosted its position in Sangamo Therapeutics by 58.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after buying an additional 1,528,600 shares during the last quarter. Marshall Wace LLP increased its position in shares of Sangamo Therapeutics by 56.3% in the 2nd 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 last quarter. XTX Topco Ltd increased its holdings in Sangamo Therapeutics by 167.8% in the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 64,981 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Sangamo Therapeutics by 55.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 38,850 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Sangamo Therapeutics during the 2nd quarter valued at approximately $67,000. 56.93% of the stock is owned by institutional investors and hedge funds.

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.