Sangamo Therapeutics, Inc. (SGMO) Downgraded by BidaskClub to “Hold”
BidaskClub lowered shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) from a buy rating to a hold rating in a research report sent to investors on Friday.
Other research analysts also recently issued research reports about the company. Wedbush reaffirmed a neutral rating and set a $4.00 price objective (down previously from $6.00) on shares of Sangamo Therapeutics in a report on Tuesday, May 16th. Jefferies Group LLC reaffirmed a buy rating and set a $17.00 price objective on shares of Sangamo Therapeutics in a report on Thursday, June 22nd. ValuEngine raised Sangamo Therapeutics from a sell rating to a hold rating in a report on Thursday, June 15th. Finally, Zacks Investment Research raised Sangamo Therapeutics from a sell rating to a hold rating in a report on Tuesday, May 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $8.50.
Shares of Sangamo Therapeutics (SGMO) opened at 8.60 on Friday. The firm’s 50-day moving average price is $8.82 and its 200 day moving average price is $5.90. The company’s market cap is $618.68 million. Sangamo Therapeutics has a 52 week low of $2.65 and a 52 week high of $10.50.
Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.03. The business had revenue of $3.40 million for 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%. Sangamo Therapeutics’s revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) EPS. On average, equities analysts predict that Sangamo Therapeutics will post ($0.93) EPS for the current fiscal year.
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In other news, VP Curt A. Herberts III sold 15,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $10.00, for a total value of $150,000.00. Following the transaction, the vice president now owns 35,517 shares of the company’s stock, valued at approximately $355,170. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 19,639 shares of company stock worth $184,765. 8.10% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in SGMO. Aperio Group LLC bought a new stake in shares of Sangamo Therapeutics during the second quarter valued at about $108,000. Fox Run Management L.L.C. bought a new stake in shares of Sangamo Therapeutics during the second quarter valued at about $126,000. Russell Investments Group Ltd. bought a new stake in shares of Sangamo Therapeutics during the second quarter valued at about $203,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Sangamo Therapeutics during the first quarter valued at about $154,000. Finally, Bank of America Corp DE increased its stake in shares of Sangamo Therapeutics by 49.9% in the first quarter. Bank of America Corp DE now owns 32,625 shares of the biopharmaceutical company’s stock valued at $169,000 after buying an additional 10,861 shares during the period. Institutional investors and hedge funds own 58.25% 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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