Sangamo Therapeutics (SGMO) Receives “Hold” Rating from Wedbush

Wedbush reissued their hold rating on shares of Sangamo Therapeutics (NASDAQ:SGMO) in a research report sent to investors on Thursday morning. They currently have a $10.00 price objective on the biopharmaceutical company’s stock.

SGMO has been the subject of several other reports. Zacks Investment Research downgraded Sangamo Therapeutics from a hold rating to a strong sell rating in a report on Wednesday, May 16th. ValuEngine downgraded Sangamo Therapeutics from a strong-buy rating to a buy rating in a report on Tuesday, May 8th. BidaskClub raised Sangamo Therapeutics from a sell rating to a hold rating in a report on Wednesday, June 20th. Bank of America began coverage on Sangamo Therapeutics in a report on Wednesday, June 20th. They issued a buy rating and a $24.00 target price for the company. Finally, Cowen reissued a buy rating on shares of Sangamo Therapeutics in a report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Sangamo Therapeutics presently has a consensus rating of Buy and a consensus price target of $22.29.

Shares of Sangamo Therapeutics traded up $0.35, hitting $15.65, on Thursday, Marketbeat reports. The stock had a trading volume of 2,113,880 shares, compared to its average volume of 1,967,697. Sangamo Therapeutics has a 52-week low of $9.50 and a 52-week high of $27.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.24 and a quick ratio of 4.78.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.02). Sangamo Therapeutics had a negative net margin of 105.65% and a negative return on equity of 26.36%. The firm had revenue of $21.42 million during the quarter, compared to analysts’ expectations of $21.43 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 159.6% on a year-over-year basis. research analysts anticipate that Sangamo Therapeutics will post -0.6 earnings per share for the current fiscal year.

In other Sangamo Therapeutics news, VP Edward R. Conner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $16.67, for a total transaction of $83,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 30,000 shares of company stock valued at $458,700. 1.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. First Mercantile Trust Co. raised its stake in Sangamo Therapeutics by 93.7% during the 1st quarter. First Mercantile Trust Co. now owns 7,666 shares of the biopharmaceutical company’s stock valued at $146,000 after acquiring an additional 3,708 shares during the last quarter. Princeton Capital Management LLC purchased a new stake in Sangamo Therapeutics during the 1st quarter valued at approximately $149,000. Riverhead Capital Management LLC raised its stake in Sangamo Therapeutics by 218.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,267 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 5,667 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Sangamo Therapeutics during the 2nd quarter valued at approximately $125,000. Finally, Tyers Asset Management LLC raised its stake in Sangamo Therapeutics by 301.3% during the 2nd quarter. Tyers Asset Management LLC now owns 9,632 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 7,232 shares during the last quarter. 57.49% of the stock is owned by hedge funds and other institutional investors.

Sangamo Therapeutics Company Profile

Sangamo Therapeutics, Inc focuses on translating ground-breaking science into genomic therapies that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger DNA-binding protein (ZFP) technology enables specific genome editing and gene regulation.

See Also: What does RSI mean?

Analyst Recommendations for Sangamo Therapeutics (NASDAQ:SGMO)

Receive News & Ratings for Sangamo Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sangamo Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply