Sangamo Therapeutics, Inc. (NASDAQ:SGMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Sangamo BioSciences, Inc. is a leader in the development of novel transcription factors for the regulation of gene expression. Transcription factors are proteins that turn genes on or off by recognizing specific DNA sequences. The Universal Gene Recognition technology platform enables the engineering of a class of transcription factors known as zinc finger DNA binding proteins. “
Other analysts also recently issued reports about the company. Wedbush restated a “neutral” rating and issued a $4.00 target price (down from $6.00) on shares of Sangamo Therapeutics in a research note on Tuesday, May 16th. Jefferies Group LLC restated a “buy” rating and issued a $17.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, June 22nd. ValuEngine upgraded Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Cowen and Company reiterated a “buy” rating on shares of Sangamo Therapeutics in a research note on Wednesday, March 22nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $8.50.
Sangamo Therapeutics (SGMO) opened at 9.40 on Tuesday. The stock’s 50 day moving average price is $7.82 and its 200 day moving average price is $4.99. The firm’s market capitalization is $676.23 million. Sangamo Therapeutics has a 52-week low of $2.65 and a 52-week high of $10.50.
Sangamo Therapeutics (NASDAQ:SGMO) last issued its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. The company had revenue of $3.40 million during the quarter, compared to the consensus estimate of $4.14 million. Sangamo Therapeutics had a negative return on equity of 50.76% and a negative net margin of 380.44%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the business posted ($0.23) EPS. On average, analysts predict that Sangamo Therapeutics will post ($0.93) EPS for the current fiscal year.
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In other Sangamo Therapeutics news, VP Curt A. Herberts III sold 15,000 shares of Sangamo Therapeutics stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $10.00, for a total transaction of $150,000.00. Following the completion of the transaction, the vice president now owns 35,517 shares in the company, valued at approximately $355,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 19,639 shares of company stock valued at $184,765 in the last quarter. Company insiders own 8.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Granahan Investment Management Inc. MA increased its position 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 worth $5,371,000 after buying an additional 794,508 shares during the period. United Services Automobile Association bought a new position in Sangamo Therapeutics during the first quarter worth about $1,394,000. Vanguard Group Inc. increased its position in Sangamo Therapeutics by 8.4% in the first quarter. Vanguard Group Inc. now owns 3,087,650 shares of the biopharmaceutical company’s stock worth $16,056,000 after buying an additional 239,544 shares during the period. Iguana Healthcare Management LLC bought a new position in Sangamo Therapeutics during the first quarter worth about $780,000. Finally, Tocqueville Asset Management L.P. increased its position in Sangamo Therapeutics by 57.8% in the first quarter. Tocqueville Asset Management L.P. now owns 390,915 shares of the biopharmaceutical company’s stock worth $2,033,000 after buying an additional 143,250 shares during the period. Institutional investors and hedge funds own 59.24% of the company’s stock.
About Sangamo Therapeutics
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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