Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Stock Holdings Decreased by Nordea Investment Management AB

Posted by on May 13th, 2023

Nordea Investment Management AB lowered its stake in Sangamo Therapeutics, Inc. (NASDAQ:SGMO – Get Rating) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 673,398 shares of the biopharmaceutical company’s stock after selling 8,714 shares during the period. Nordea Investment Management AB owned 0.41% of Sangamo Therapeutics worth $2,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Sangamo Therapeutics by 617.1% in the 4th quarter. Signaturefd LLC now owns 11,774 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 10,132 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Sangamo Therapeutics during the 4th quarter valued at about $48,000. Allspring Global Investments Holdings LLC grew its position in shares of Sangamo Therapeutics by 31.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,205 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 2,445 shares during the last quarter. New Harbor Financial Group LLC bought a new stake in shares of Sangamo Therapeutics during the 3rd quarter valued at about $51,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in shares of Sangamo Therapeutics during the 3rd quarter valued at about $59,000. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SGMO shares. Stifel Nicolaus lowered their price objective on shares of Sangamo Therapeutics from $4.20 to $3.90 in a research report on Friday, April 28th. StockNews.com raised shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Bank of America downgraded shares of Sangamo Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $5.00 to $1.50 in a research report on Friday, April 28th. Royal Bank of Canada reduced their target price on shares of Sangamo Therapeutics from $22.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, February 23rd. Finally, HC Wainwright reduced their target price on shares of Sangamo Therapeutics from $15.00 to $5.00 in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.91.

Sangamo Therapeutics Trading Up 0.8 %

Shares of NASDAQ:SGMO opened at $1.31 on Friday. The company has a 50 day moving average of $1.72 and a 200-day moving average of $2.83. The firm has a market cap of $225.09 million, a P/E ratio of -1.05 and a beta of 1.07. Sangamo Therapeutics, Inc. has a twelve month low of $1.18 and a twelve month high of $6.42.

Sangamo Therapeutics (NASDAQ:SGMO – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.04. The company had revenue of $27.23 million during the quarter, compared to analyst estimates of $26.86 million. Sangamo Therapeutics had a negative net margin of 172.76% and a negative return on equity of 61.19%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.26) EPS. Equities research analysts forecast that Sangamo Therapeutics, Inc. will post -1.14 EPS for the current year.

Sangamo Therapeutics Profile

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Sangamo Therapeutics, Inc is a clinical stage biotechnology company, which engages in the research and development of zinc finger proteins. It focuses on three therapeutic areas: inherited metabolic diseases, central nervous system, and diseases and immunology, which comprises inflammatory and autoimmune diseases.

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Institutional Ownership by Quarter for Sangamo Therapeutics (NASDAQ:SGMO)

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