Jefferies Financial Group Has Lowered Expectations for Sangamo Therapeutics (NASDAQ:SGMO) Stock Price

Sangamo Therapeutics (NASDAQ:SGMO) had its price objective cut by Jefferies Financial Group from $7.00 to $3.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 222.58% from the company’s current price.

A number of other equities research analysts have also issued reports on SGMO. Barclays increased their price objective on shares of Sangamo Therapeutics from $3.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Truist Financial upgraded 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 report on Friday, December 13th. Wells Fargo & Company reduced their price target on shares of Sangamo Therapeutics from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday. StockNews.com downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Sangamo Therapeutics Stock Performance

Shares of SGMO traded down $1.41 during mid-day trading on Tuesday, reaching $0.93. The stock had a trading volume of 34,908,452 shares, compared to its average volume of 7,047,859. The business has a fifty day moving average of $2.16 and a 200 day moving average of $1.22. The firm has a market cap of $194.04 million, a price-to-earnings ratio of -1.24 and a beta of 1.15. Sangamo Therapeutics has a 12 month low of $0.30 and a 12 month high of $3.18.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings results 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. The business had revenue of $49.41 million during the quarter, compared to analyst estimates of $26.55 million. Sangamo Therapeutics had a negative return on equity of 264.16% and a negative net margin of 257.87%. During the same quarter in the prior year, the business posted ($0.34) EPS. On average, research analysts forecast that Sangamo Therapeutics will post -0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in shares of 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 purchasing an additional 1,528,600 shares during the last quarter. Geode Capital Management LLC raised its holdings in Sangamo Therapeutics by 14.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after buying an additional 272,123 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Sangamo Therapeutics by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock worth $956,000 after buying an additional 57,125 shares during the last quarter. State Street Corp boosted its stake in Sangamo Therapeutics by 28.0% during the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock worth $576,000 after buying an additional 145,400 shares during the period. Finally, Marshall Wace LLP increased its position in Sangamo Therapeutics by 56.3% during the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 207,476 shares during the last quarter. 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.