Sangamo Therapeutics (NASDAQ:SGMO) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.58 and traded as high as $0.69. Sangamo Therapeutics shares last traded at $0.64, with a volume of 3,959,993 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have commented on SGMO shares. Wall Street Zen raised shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sangamo Therapeutics in a research report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, September 4th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.50.

Sangamo Therapeutics Price Performance

The firm has a market capitalization of $194.45 million, a P/E ratio of -2.22 and a beta of 1.22. The firm has a 50-day moving average price of $0.59 and a two-hundred day moving average price of $0.58.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $18.31 million during the quarter, compared to the consensus estimate of $31.68 million. Sangamo Therapeutics had a negative net margin of 77.48% and a negative return on equity of 293.05%. Sell-side analysts predict that Sangamo Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Sangamo Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Sangamo Therapeutics in the second quarter valued at about $28,000. World Investment Advisors raised its holdings in shares of Sangamo Therapeutics by 88.5% in the third quarter. World Investment Advisors now owns 42,611 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 20,000 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Sangamo Therapeutics by 439.2% in the first quarter. Cerity Partners LLC now owns 55,000 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 44,800 shares in the last quarter. Caption Management LLC bought a new stake in shares of Sangamo Therapeutics in the first quarter valued at about $37,000. Finally, XTX Topco Ltd bought a new stake in shares of Sangamo Therapeutics in the second quarter valued at about $41,000. 56.92% of the stock is currently owned by institutional investors.

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.