Sangamo Therapeutics, Inc. (SGMO) Shares Up 0% Following Strong Earnings

Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) shot up 0% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $14.65 and last traded at $13.45. 3,081,560 shares were traded during trading, an increase of 139% from the average session volume of 1,287,012 shares. The stock had previously closed at $13.45.

The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. Sangamo Therapeutics had a negative return on equity of 33.63% and a negative net margin of 157.66%. The business had revenue of $11.81 million for the quarter, compared to the consensus estimate of $10.37 million. During the same period in the prior year, the business earned ($0.27) EPS. The firm’s revenue for the quarter was up 333.0% on a year-over-year basis.

SGMO has been the topic of a number of research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Sangamo Therapeutics in a research note on Friday, October 13th. Zacks Investment Research raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, August 18th. ValuEngine raised Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Piper Jaffray Companies set a $8.00 price target on Sangamo Therapeutics and gave the stock a “hold” rating in a research note on Thursday, August 10th. Finally, BidaskClub downgraded Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Sangamo Therapeutics currently has an average rating of “Hold” and a consensus price target of $14.40.

In other news, VP Curt A. Herberts III sold 11,474 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $10.44, for a total value of $119,788.56. Following the completion of the sale, the vice president now directly owns 23,991 shares of the company’s stock, valued at $250,466.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Curt A. Herberts III sold 15,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the sale, the vice president now directly owns 15,833 shares of the company’s stock, valued at $237,495. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,474 shares of company stock valued at $1,019,009. Company insiders own 5.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. HighTower Advisors LLC raised its stake in shares of Sangamo Therapeutics by 0.3% in the first quarter. HighTower Advisors LLC now owns 39,405 shares of the biopharmaceutical company’s stock worth $206,000 after purchasing an additional 100 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Sangamo Therapeutics by 4.3% in the second quarter. Blair William & Co. IL now owns 12,100 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 500 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sangamo Therapeutics by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 128,764 shares of the biopharmaceutical company’s stock worth $670,000 after purchasing an additional 513 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Sangamo Therapeutics by 6.8% in the second quarter. Principal Financial Group Inc. now owns 12,978 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 832 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Sangamo Therapeutics by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 267,293 shares of the biopharmaceutical company’s stock worth $2,353,000 after purchasing an additional 1,558 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 0.02.

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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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