Sangamo Therapeutics (SGMO) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of Sangamo Therapeutics (NASDAQ:SGMO) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

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. “

Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Sangamo Therapeutics from a strong-buy rating to a buy rating in a research note on Tuesday. Guggenheim assumed coverage on shares of Sangamo Therapeutics in a research note on Tuesday. They issued a buy rating and a $18.00 price target on the stock. Cowen reiterated a buy rating on shares of Sangamo Therapeutics in a research note on Monday, July 23rd. Bank of America assumed coverage on shares of Sangamo Therapeutics in a research note on Wednesday, June 20th. They issued a buy rating and a $24.00 price target on the stock. Finally, Wedbush reiterated a hold rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $20.57.

Sangamo Therapeutics stock traded up $0.26 during mid-day trading on Wednesday, reaching $14.00. The stock had a trading volume of 1,691,988 shares, compared to its average volume of 2,282,169. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -20.00 and a beta of 2.97. Sangamo Therapeutics has a one year low of $11.30 and a one year high of $27.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.24 and a quick ratio of 7.24.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.02). The firm had revenue of $21.42 million during the quarter, compared to the consensus estimate of $21.43 million. Sangamo Therapeutics had a negative return on equity of 26.36% and a negative net margin of 105.65%. The business’s revenue for the quarter was up 159.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) EPS. On average, equities analysts expect that Sangamo Therapeutics will post -0.69 EPS for the current fiscal year.

In other Sangamo Therapeutics news, CFO Kathy Yi sold 5,000 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $14.77, for a total value of $73,850.00. Following the completion of the transaction, the chief financial officer now owns 12,250 shares of the company’s stock, valued at approximately $180,932.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director H Stewart Parker bought 2,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was acquired at an average cost of $13.52 per share, with a total value of $27,040.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 30,000 shares of company stock worth $434,950. 1.20% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Sangamo Therapeutics by 20.8% in the 2nd quarter. BlackRock Inc. now owns 8,083,121 shares of the biopharmaceutical company’s stock worth $114,780,000 after buying an additional 1,391,067 shares during the last quarter. Wasatch Advisors Inc. raised its position in Sangamo Therapeutics by 9.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 4,058,167 shares of the biopharmaceutical company’s stock worth $57,626,000 after buying an additional 365,186 shares during the last quarter. Northern Trust Corp raised its position in Sangamo Therapeutics by 21.0% in the 2nd quarter. Northern Trust Corp now owns 1,287,800 shares of the biopharmaceutical company’s stock worth $18,286,000 after buying an additional 223,870 shares during the last quarter. Nexthera Capital LP raised its position in Sangamo Therapeutics by 35.7% in the 2nd quarter. Nexthera Capital LP now owns 1,066,914 shares of the biopharmaceutical company’s stock worth $15,150,000 after buying an additional 280,538 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Sangamo Therapeutics by 42.2% in the 2nd quarter. Wells Fargo & Company MN now owns 789,981 shares of the biopharmaceutical company’s stock worth $11,218,000 after buying an additional 234,346 shares during the last quarter. 63.84% of the stock is owned by institutional investors and hedge funds.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc focuses on translating science into genomic therapies that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger DNA-binding protein (ZFP) technology enables specific genome editing and gene regulation.

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