Zacks Investment Research downgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.
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 analysts also recently issued reports on SGMO. Wedbush reissued a hold rating and set a $11.00 target price on shares of Sangamo Therapeutics in a research note on Tuesday, November 12th. BidaskClub raised shares of Sangamo Therapeutics from a strong sell rating to a sell rating in a research note on Wednesday, October 30th. HC Wainwright assumed coverage on shares of Sangamo Therapeutics in a research note on Monday, August 26th. They set a buy rating and a $16.00 target price on the stock. Finally, ValuEngine raised shares of Sangamo Therapeutics from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $13.50.
NASDAQ:SGMO traded up $0.34 during trading hours on Friday, hitting $9.68. 1,790,600 shares of the stock traded hands, compared to its average volume of 1,785,198. The firm has a 50 day moving average price of $8.92 and a 200 day moving average price of $10.26. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.10. Sangamo Therapeutics has a fifty-two week low of $6.26 and a fifty-two week high of $13.91. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -13.83 and a beta of 2.79.
Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.10. Sangamo Therapeutics had a negative net margin of 159.12% and a negative return on equity of 30.33%. The company had revenue of $21.96 million for the quarter, compared to the consensus estimate of $12.16 million. During the same period in the previous year, the business earned ($0.13) EPS. The company’s revenue was down 6.8% on a year-over-year basis. Research analysts predict that Sangamo Therapeutics will post -1.21 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of SGMO. First Manhattan Co. acquired a new position in shares of Sangamo Therapeutics in the second quarter worth $32,000. Steward Partners Investment Advisory LLC bought a new stake in Sangamo Therapeutics in the second quarter worth $50,000. Tiverton Asset Management LLC bought a new stake in Sangamo Therapeutics in the second quarter worth $79,000. Tower Research Capital LLC TRC boosted its holdings in Sangamo Therapeutics by 1,621.1% in the third quarter. Tower Research Capital LLC TRC now owns 11,170 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 10,521 shares in the last quarter. Finally, McGuire Investment Group LLC bought a new stake in Sangamo Therapeutics in the third quarter worth $110,000. 70.63% of the stock is currently owned by institutional investors and hedge funds.
Sangamo Therapeutics Company Profile
Sangamo Therapeutics, Inc focuses on translating science into genomic medicines that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger proteins (ZFPs) could be engineered to make zinc finger nucleases (ZFNs), proteins that could be used to modify DNA sequences by adding or knocking out specific genes or genome editing; and ZFP transcription factors (ZFP TFs) proteins that can be used to increase or decrease gene expression or gene regulation.
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