Sangamo Therapeutics, Inc. (NASDAQ:SGMO) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday, August 5th.
Other research analysts have also issued reports about the stock. ValuEngine upgraded shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Wedbush restated a “neutral” rating and set a $4.00 price target (down from $6.00) on shares of Sangamo Therapeutics in a research report on Tuesday, May 16th. Zacks Investment Research upgraded shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $17.00 target price on shares of Sangamo Therapeutics in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $10.25.
Shares of Sangamo Therapeutics (NASDAQ SGMO) traded down 3.41% on Friday, reaching $9.90. The company had a trading volume of 1,674,911 shares. The stock’s market cap is $827.74 million. The stock has a 50-day moving average price of $9.32 and a 200-day moving average price of $6.43. Sangamo Therapeutics has a 12 month low of $2.65 and a 12 month high of $12.05.
Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. The firm had revenue of $8.30 million for the quarter, compared to analysts’ expectations of $5.82 million. Sangamo Therapeutics had a negative net margin of 246.39% and a negative return on equity of 38.49%. The business’s quarterly revenue was up 124.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.38) earnings per share. Analysts predict that Sangamo Therapeutics will post ($0.82) earnings per share for the current fiscal year.
In other news, VP Curt A. Herberts III sold 15,000 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. Following the sale, the vice president now directly owns 35,517 shares in the company, valued at approximately $355,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Curt A. Herberts III sold 11,474 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $10.44, for a total transaction of $119,788.56. Following the sale, the vice president now owns 23,991 shares in the company, valued at $250,466.04. The disclosure for this sale can be found here. Insiders have sold a total of 28,474 shares of company stock worth $283,389 in the last quarter. Corporate insiders own 8.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. EcoR1 Capital LLC bought a new stake in Sangamo Therapeutics during the second quarter valued at about $22,599,000. RA Capital Management LLC bought a new stake in Sangamo Therapeutics during the second quarter valued at about $11,000,000. Granahan Investment Management Inc. MA boosted its stake in Sangamo Therapeutics by 333.3% in the first quarter. Granahan Investment Management Inc. MA now owns 1,032,859 shares of the biopharmaceutical company’s stock valued at $5,371,000 after buying an additional 794,508 shares during the period. State Street Corp boosted its stake in Sangamo Therapeutics by 51.6% in the second quarter. State Street Corp now owns 1,868,285 shares of the biopharmaceutical company’s stock valued at $16,441,000 after buying an additional 636,296 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Sangamo Therapeutics by 12.4% in the second quarter. Vanguard Group Inc. now owns 3,471,681 shares of the biopharmaceutical company’s stock valued at $30,551,000 after buying an additional 384,031 shares during the period. 57.97% of the stock is owned by hedge funds and other institutional investors.
Sangamo Therapeutics Company Profile
Sangamo Therapeutics, Inc, formerly Sangamo BioSciences, Inc, is a clinical-stage biotechnology company. The Company is focused on translating science into genomic therapies that transform patients’ lives using the Company’s platform technologies in genome editing, gene therapy, gene regulation and cell therapy.
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