Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Short Interest Update

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 13,390,000 shares, a drop of 29.5% from the October 31st total of 18,980,000 shares. Based on an average daily trading volume, of 7,230,000 shares, the short-interest ratio is currently 1.9 days.

Sangamo Therapeutics Price Performance

Shares of NASDAQ SGMO traded down $0.04 during trading hours on Friday, hitting $2.26. 3,004,315 shares of the stock were exchanged, compared to its average volume of 7,911,532. Sangamo Therapeutics has a one year low of $0.30 and a one year high of $3.18. The company’s 50 day moving average is $1.57 and its 200 day moving average is $0.97. The firm has a market capitalization of $471.54 million, a P/E ratio of -3.01 and a beta of 1.10.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.07. The firm had revenue of $49.41 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted ($0.34) earnings per share. Research analysts anticipate that Sangamo Therapeutics will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of SGMO. State Board of Administration of Florida Retirement System boosted its stake in Sangamo Therapeutics by 61.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 23,650 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Sangamo Therapeutics during the second quarter valued at approximately $67,000. Meritage Portfolio Management grew its stake in shares of Sangamo Therapeutics by 8.6% during the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 6,740 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sangamo Therapeutics during the second quarter worth $89,000. Finally, XTX Topco Ltd raised its stake in Sangamo Therapeutics by 167.8% during the third quarter. XTX Topco Ltd now owns 103,716 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 64,981 shares during the last quarter. 56.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SGMO has been the subject of several recent research reports. StockNews.com upgraded shares of Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a research report on Thursday, November 14th. Finally, Barclays increased their target price on Sangamo Therapeutics from $3.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th.

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.