Sangamo Therapeutics (NASDAQ:SGMO) Receives New Coverage From StockNews.com Amid Financial Analysis From Significant Players

Equity analysts at StockNews.com have begun coverage on Sangamo Therapeutics, Inc. SGMO, an innovative clinical-stage biotechnology firm specialized in genomic medicine, in a report issued on November 12th, 2023. The firm has initiated the coverage with a 'sell' rating, providing a critical eye on the future of the company's stock. Sangamo Therapeutics, with its headquarters in Brisbane, California, focuses on transforming the lives of patients using gene therapy, cell therapy, genome editing, and genome regulation technologies.

Analyst Ratings and Price Targets

A consortium of equity research analysts have recently issued reports on SGMO. Wells Fargo & Company continued with an 'equal weight' rating and set a price target of $1.00, while Barclays adjusted their target from $11.00 to $9.00, maintaining an 'overweight' rating. HC Wainwright followed through with a drop in price target from $5.00 to $3.00, yet kept a 'buy' rating. Truist Financial has reiterated a 'hold' rating, and Wedbush reduced their price target to $10.00 from $16.00, still maintaining an 'outperform' stance. Based on data aggregated by MarketBeat.com, SGMO receives an average consensus rating of 'Hold' with an average target price of $4.68.

Market Performance and Shareholder Transactions

The stock of SGMO commenced trading at $0.30 on the evaluation date, with a fifty-day moving average of $0.64 and a two-hundred-day average of $1.02. Sangamo's market capitalization stands at approximately $52.69 million, with a PE ratio notably at -0.20 and a beta of 1.12, indicative of its volatility compared to the market. In insider trading news, Biogen Inc., a major shareholder, sold a substantial block of shares, totaling 6,000,000 units at an average price of $0.50 each. The disclosures are fully documented and available via the SEC's website.

Notable Investment Shifts

Various large investors have adjusted their positions in SGMO. For instance, UBS Group AG UBS markedly increased its holdings by 670.3% during the third quarter, now owning 745,980 shares. Charles Schwab Investment Management Inc., under the umbrella of The Charles Schwab Corporation SCHW, increased its shares by 27.6%. Vanguard, Mirae Asset Global Investments, and Miracle Mile Advisors are among other significant investors with recent changes in their stakes in Sangamo Therapeutics.

About Sangamo Therapeutics

SGMO is advancing a compelling pipeline that includes several candidates in different stages of clinical trials, such as ST-920 for Fabry disease, TX200 for kidney transplantation, SB-525 for hemophilia A, and BIVV003 for sickle cell disease, highlighting its diversification within the biopharmaceutical sector.

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