Sangamo Therapeutics (NASDAQ:SGMO) Releases Earnings Results, Misses Estimates By $0.08 EPS

Sangamo Therapeutics (NASDAQ:SGMO) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08), Zacks reports. Sangamo Therapeutics had a negative net margin of 77.48% and a negative return on equity of 293.05%.

Sangamo Therapeutics Stock Down 16.3%

SGMO stock traded down $0.09 during trading on Thursday, hitting $0.46. The company had a trading volume of 12,062,198 shares, compared to its average volume of 5,816,204. The firm has a 50-day moving average price of $0.60 and a 200-day moving average price of $0.57. Sangamo Therapeutics has a 12 month low of $0.41 and a 12 month high of $3.18. The stock has a market cap of $138.94 million, a price-to-earnings ratio of -1.59 and a beta of 1.25.

Institutional Trading of Sangamo Therapeutics

A number of institutional investors have recently bought and sold shares of SGMO. Geode Capital Management LLC grew its holdings in Sangamo Therapeutics by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,332,279 shares of the biopharmaceutical company’s stock worth $1,263,000 after acquiring an additional 48,829 shares during the period. XTX Topco Ltd acquired a new stake in Sangamo Therapeutics during the 2nd quarter worth $41,000. Invesco Ltd. grew its holdings in Sangamo Therapeutics by 40.6% during the 2nd quarter. Invesco Ltd. now owns 680,452 shares of the biopharmaceutical company’s stock worth $368,000 after acquiring an additional 196,558 shares during the period. Engineers Gate Manager LP grew its holdings in Sangamo Therapeutics by 101.7% during the 2nd quarter. Engineers Gate Manager LP now owns 87,425 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 44,078 shares during the period. Finally, Wasatch Advisors LP grew its holdings in Sangamo Therapeutics by 17.7% during the 2nd quarter. Wasatch Advisors LP now owns 8,084,419 shares of the biopharmaceutical company’s stock worth $4,376,000 after acquiring an additional 1,215,653 shares during the period. Institutional investors and hedge funds own 56.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SGMO shares. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, September 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sangamo Therapeutics in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.50.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc, a clinical-stage genomic medicine company, focuses on translating science into medicines that transform the lives of patients and families afflicted with serious diseases in the United States. The company's clinical-stage product candidates are ST-920, a gene therapy product candidate, which is in Phase 1/2 clinical study for the treatment of Fabry disease; TX200, a chimeric antigen receptor engineered regulatory T cell (CAR-Treg) therapy product candidate that is in Phase 1/2 clinical study for the prevention of immune-mediated rejection in HLA-A2 mismatched kidney transplantation; SB-525, a gene therapy product candidate, which is in Phase 3 clinical trial for the treatment of moderately severe to severe hemophilia A; BIVV003, a zinc finger nuclease gene-edited cell therapy product candidate that is in Phase 1/2 PRECIZN-1 clinical study for the treatment of sickle cell disease.