Sangamo Therapeutics (SGMO) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research cut shares of Sangamo Therapeutics (NASDAQ:SGMO) from a buy rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “Sangamo Therapeutics, Inc. is a biotechnology company. It focuses on research and development of genomic therapies as well as develops medicines for patient with genetic diseases. The Company’s product pipeline includes SB-525, SB-FIX, SB-318, SB-913, SB-728-T and SB-728-HSPC. Sangamo Therapeutics Inc., formerly known as Sangamo BioSciences Inc., is based in Richmond, United States. “
Several other research analysts have also recently issued reports on the company. Barclays initiated coverage on Sangamo Therapeutics in a report on Wednesday, November 22nd. They issued an overweight rating and a $20.00 price target on the stock. Piper Jaffray Companies raised Sangamo Therapeutics from a neutral rating to an overweight rating and set a $19.00 price target on the stock in a report on Wednesday, November 15th. Wedbush reaffirmed a hold rating and issued a $6.00 price target on shares of Sangamo Therapeutics in a report on Wednesday, November 15th. Jefferies Group reaffirmed a buy rating and issued a $18.00 price target on shares of Sangamo Therapeutics in a report on Thursday, September 14th. Finally, BidaskClub raised Sangamo Therapeutics from a hold rating to a buy rating in a report on Friday, December 29th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Sangamo Therapeutics presently has a consensus rating of Buy and a consensus price target of $18.83.
Shares of Sangamo Therapeutics (NASDAQ:SGMO) traded down $0.65 during trading hours on Friday, reaching $17.20. The company had a trading volume of 1,510,000 shares, compared to its average volume of 1,380,000. Sangamo Therapeutics has a 1 year low of $3.35 and a 1 year high of $18.69. The company has a market capitalization of $1,400.00, a PE ratio of -24.93 and a beta of 3.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.64 and a current ratio of 5.64.
Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. The company had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $10.37 million. Sangamo Therapeutics had a negative return on equity of 31.81% and a negative net margin of 157.66%. The firm’s revenue was up 333.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.27) earnings per share. equities analysts predict that Sangamo Therapeutics will post -0.73 earnings per share for the current fiscal year.
In other Sangamo Therapeutics news, VP Curt A. Herberts III sold 16,630 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $16.13, for a total transaction of $268,241.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $14.67, for a total transaction of $73,350.00. Following the sale, the director now directly owns 5,000 shares in the company, valued at $73,350. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,433 shares of company stock worth $894,146. Company insiders own 5.50% of the company’s stock.
Large investors have recently made changes to their positions in the business. Blair William & Co. IL raised its stake in Sangamo Therapeutics by 4.3% during the 2nd quarter. Blair William & Co. IL now owns 12,100 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 500 shares during the period. Aperio Group LLC acquired a new stake in Sangamo Therapeutics during the 2nd quarter valued at $108,000. Principal Financial Group Inc. raised its stake in Sangamo Therapeutics by 6.8% during the 2nd quarter. Principal Financial Group Inc. now owns 12,978 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 832 shares during the period. Quantbot Technologies LP purchased a new position in shares of Sangamo Therapeutics during the 3rd quarter valued at $118,000. Finally, Virtu KCG Holdings LLC purchased a new position in shares of Sangamo Therapeutics during the 2nd quarter valued at $124,000. 64.33% of the stock is currently owned by institutional investors.
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Sangamo Therapeutics Company Profile
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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