Goldman Sachs Group Inc. Sells 651,670 Shares of Sangamo Therapeutics, Inc. $SGMO

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Sangamo Therapeutics, Inc. by 40.6%, selling 651,670 shares and now owning approximately 0.41% of the company, worth around $626,000.
• Sangamo Therapeutics has received a "buy" rating from HC Wainwright, with a target price of $10.00 per share, amidst a consensus rating of "Moderate Buy" and an average target price of $4.50 from analysts.
• The company's stock performance shows a significant decline, opening at $0.56 with a 1-year low of $0.41 and a high of $3.18, reflecting ongoing challenges in its financial performance, including a reported earnings miss.

Goldman Sachs Group Inc. lowered its position in Sangamo Therapeutics, Inc. (NASDAQ:SGMO - Free Report) by 40.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 955,239 shares of the biopharmaceutical company's stock after selling 651,670 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.41% of Sangamo Therapeutics worth $626,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SGMO. Northern Trust Corp lifted its holdings in Sangamo Therapeutics by 4.5% during the fourth quarter. Northern Trust Corp now owns 398,289 shares of the biopharmaceutical company's stock worth $406,000 after buying an additional 17,049 shares during the period. Bank of America Corp DE raised its stake in Sangamo Therapeutics by 179.3% in the 4th quarter. Bank of America Corp DE now owns 331,256 shares of the biopharmaceutical company's stock worth $338,000 after acquiring an additional 212,638 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Sangamo Therapeutics in the 4th quarter worth $353,000. Two Sigma Investments LP grew its position in Sangamo Therapeutics by 222.1% during the 4th quarter. Two Sigma Investments LP now owns 1,012,640 shares of the biopharmaceutical company's stock worth $1,033,000 after purchasing an additional 698,296 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in shares of Sangamo Therapeutics during the 4th quarter valued at about $722,000. Hedge funds and other institutional investors own 56.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SGMO. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research note on Thursday, September 4th. Wall Street Zen raised shares of Sangamo Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.50.

Sangamo Therapeutics Price Performance

Shares of SGMO opened at $0.56 on Thursday. Sangamo Therapeutics, Inc. has a 1-year low of $0.41 and a 1-year high of $3.18. The stock has a market cap of $170.44 million, a PE ratio of -1.95 and a beta of 1.20. The firm has a fifty day moving average price of $0.54 and a 200 day moving average price of $0.60.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The business had revenue of $18.31 million during the quarter, compared to analysts' expectations of $31.68 million. Sangamo Therapeutics had a negative net margin of 77.48% and a negative return on equity of 293.05%. As a group, equities analysts expect that Sangamo Therapeutics, Inc. will post -0.46 EPS for the current fiscal year.

Sangamo Therapeutics 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.

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