Equities Analysts Set Expectations for SGMO FY2024 Earnings

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) – Analysts at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for shares of Sangamo Therapeutics in a report released on Tuesday, November 5th. HC Wainwright analyst P. Trucchio now anticipates that the biopharmaceutical company will post earnings per share of ($0.40) for the year, down from their previous forecast of ($0.23). HC Wainwright currently has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for Sangamo Therapeutics’ current full-year earnings is ($0.47) per share. HC Wainwright also issued estimates for Sangamo Therapeutics’ Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.07 EPS, FY2025 earnings at ($0.06) EPS, FY2026 earnings at $0.10 EPS, FY2027 earnings at $0.29 EPS and FY2028 earnings at $0.63 EPS.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Sangamo Therapeutics had a negative return on equity of 273.25% and a negative net margin of 2,033.69%. The business had revenue of $0.36 million for the quarter, compared to analysts’ expectations of $11.40 million.

Separately, StockNews.com initiated coverage on shares of Sangamo Therapeutics in a research report on Sunday, July 28th. They set a “sell” rating for the company.

Sangamo Therapeutics Stock Performance

Shares of Sangamo Therapeutics stock opened at $2.47 on Thursday. The stock has a market capitalization of $514.31 million, a price-to-earnings ratio of -1.79 and a beta of 1.10. The company has a fifty day moving average of $1.08 and a 200-day moving average of $0.77. Sangamo Therapeutics has a 52-week low of $0.29 and a 52-week high of $2.56.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in Sangamo Therapeutics by 58.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock worth $1,479,000 after acquiring an additional 1,528,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sangamo Therapeutics in the first quarter worth about $331,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sangamo Therapeutics during the 2nd quarter valued at about $89,000. Vontobel Holding Ltd. raised its position in Sangamo Therapeutics by 412.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 241,440 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Sangamo Therapeutics by 56.3% in the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 207,476 shares during the period. 56.93% of the stock is owned by hedge funds and other 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.