Janney Montgomery Scott LLC Raises Stake in Sangamo BioSciences Inc. (SGMO)
Janney Montgomery Scott LLC raised its position in Sangamo BioSciences Inc. (NASDAQ:SGMO) by 91.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,956 shares of the biopharmaceutical company’s stock after buying an additional 14,278 shares during the period. Janney Montgomery Scott LLC’s holdings in Sangamo BioSciences were worth $225,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new position in shares of Sangamo BioSciences during the first quarter valued at about $1,384,000. Spark Investment Management LLC purchased a new position in shares of Sangamo BioSciences during the first quarter valued at about $472,000. Altrinsic Global Advisors LLC increased its position in shares of Sangamo BioSciences by 2.0% in the first quarter. Altrinsic Global Advisors LLC now owns 500,000 shares of the biopharmaceutical company’s stock valued at $3,025,000 after buying an additional 10,000 shares during the period. Royce & Associates LP increased its position in shares of Sangamo BioSciences by 46.1% in the first quarter. Royce & Associates LP now owns 456,100 shares of the biopharmaceutical company’s stock valued at $2,759,000 after buying an additional 144,000 shares during the period. Finally, Wexford Capital LP purchased a new position in shares of Sangamo BioSciences during the first quarter valued at about $299,000. 65.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Sangamo BioSciences Inc. (NASDAQ:SGMO) traded up 2.84% during midday trading on Monday, reaching $4.70. 780,109 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $4.86 and its 200 day moving average price is $5.82. Sangamo BioSciences Inc. has a 52-week low of $4.08 and a 52-week high of $9.91. The firm’s market capitalization is $331.90 million.
Sangamo BioSciences (NASDAQ:SGMO) last issued its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.14. The firm earned $3.70 million during the quarter, compared to analyst estimates of $5.38 million. Sangamo BioSciences had a negative net margin of 261.81% and a negative return on equity of 36.08%. The business’s revenue for the quarter was down 56.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. On average, equities research analysts anticipate that Sangamo BioSciences Inc. will post ($1.11) EPS for the current fiscal year.
Several equities analysts have recently issued reports on the stock. Jefferies Group reissued a “buy” rating on shares of Sangamo BioSciences in a report on Friday, August 5th. Cowen and Company reissued a “buy” rating on shares of Sangamo BioSciences in a report on Wednesday, August 10th. Janney Montgomery Scott cut shares of Sangamo BioSciences from a “buy” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $8.00 in a research note on Thursday, August 4th. Finally, Zacks Investment Research cut shares of Sangamo BioSciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $15.58.
Sangamo BioSciences Company Profile
Sangamo Biosciences Inc is a clinical-stage biopharmaceutical company. The Company is focused on research, development and commercialization of engineered deoxyribonucleic acid (DNA)-binding proteins for therapeutic genome editing and gene regulation. It is engaged in developing zinc finger DNA-binding proteins (ZFP) therapeutics.
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