Sangamo Therapeutics Inc (NASDAQ: SGMO) Shares Could Drop Up To -3120.34%

In today’s recent session, 0.68 million shares of the Sangamo Therapeutics Inc (NASDAQ:SGMO) have been traded, and its beta is 1.36. Most recently the company’s share price was $0.59, and it changed around -$0.02 or -3.08% from the last close, which brings the market valuation of the company to $119.94M. SGMO at last check was trading at a discount to its 52-week high of $1.80, offering almost -205.08% off that amount. The share price’s 52-week low was $0.29, which indicates that the recent value has risen by an impressive 50.85% since then. We note from Sangamo Therapeutics Inc’s average daily trading volume that its 10-day average is 2.62 million shares, with the 3-month average coming to 2.37 million.

Sangamo Therapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.88. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended SGMO as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Sangamo Therapeutics Inc is expected to report earnings per share of -$0.21 for the current quarter.

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Sangamo Therapeutics Inc (NASDAQ:SGMO) trade information

Instantly SGMO has been showing red trend so far today with a performance of -3.08% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently up 8.39% year-to-date, but still down -8.23% over the last five days. On the other hand, Sangamo Therapeutics Inc (NASDAQ:SGMO) is -46.95% down in the 30-day period. We can see from the shorts that 10.88 million shares have been sold at a short interest cover period of 3.52 day(s).

The consensus price target as assigned by Wall Street analysts is $12, which translates to bulls needing to increase their stock price by 95.08% from its current value. Analyst projections state that SGMO is forecast to be at a low of $5 and a high of $19.

Sangamo Therapeutics Inc (SGMO) estimates and forecasts

Sangamo Therapeutics Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -1.82 percent over the past six months and at a 8.47% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -275.00% in revenue this quarter, and will report an increase of 78.80% in the next quarter. The year-over-year growth rate is expected to be -74.00%, down from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $6.65 million in revenue for the current quarter. 6 analysts expect Sangamo Therapeutics Inc to make $8.24 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $157.96 million and $14.83 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -95.80%. Forecasts for the next quarter put sales growth at -44.40%.

Sangamo Therapeutics Inc (NASDAQ:SGMO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 9.45% of Sangamo Therapeutics Inc shares, and 43.79% of them are in the hands of institutional investors. The stock currently has a share float of 48.36%. Sangamo Therapeutics Inc stock is held by 173 institutions, with Wasatch Advisors LP being the largest institutional investor. By Jun 29, 2023, it held 9.63% of the shares, which is about 17.05 million shares worth $22.17 million.

Blackrock Inc., with 8.97% or 15.89 million shares worth $20.66 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Wasatch Ultra Growth Fund and Wasatch Small Cap Growth Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 6.48 million shares worth $8.42 million, making up 3.66% of all outstanding shares. On the other hand, Wasatch Small Cap Growth Fund held roughly 4.44 million shares worth around $5.77 million, which represents about 2.51% of the total shares outstanding.