Sangamo Therapeutics (NASDAQ:SGMO) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a sell rating to a hold rating in a report issued on Wednesday, 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 brokerages have also recently commented on SGMO. Wedbush set a $11.00 price target on Sangamo Therapeutics and gave the company a hold rating in a research note on Monday, July 8th. ValuEngine cut W&T Offshore from a hold rating to a sell rating in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $13.33.

Shares of NASDAQ SGMO opened at $11.60 on Wednesday. The company has a market cap of $1.40 billion, a PE ratio of -16.57 and a beta of 2.98. The firm has a 50 day moving average price of $10.33. Sangamo Therapeutics has a 52 week low of $6.26 and a 52 week high of $19.25. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 0.04.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.14). The firm had revenue of $8.07 million during the quarter, compared to the consensus estimate of $27.21 million. Sangamo Therapeutics had a negative net margin of 113.03% and a negative return on equity of 24.67%. Analysts predict that Sangamo Therapeutics will post -1.46 EPS for the current fiscal year.

In other Sangamo Therapeutics news, CFO Kathy Yi sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $10.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief financial officer now owns 30,512 shares of the company’s stock, valued at $305,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in SGMO. Wasatch Advisors Inc. boosted its position in Sangamo Therapeutics by 26.8% during the first quarter. Wasatch Advisors Inc. now owns 6,437,908 shares of the biopharmaceutical company’s stock worth $61,418,000 after purchasing an additional 1,359,170 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Sangamo Therapeutics by 459.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,239,110 shares of the biopharmaceutical company’s stock valued at $14,224,000 after acquiring an additional 1,017,573 shares during the period. Bailard Inc. boosted its position in shares of Sangamo Therapeutics by 373.0% in the first quarter. Bailard Inc. now owns 156,100 shares of the biopharmaceutical company’s stock valued at $1,489,000 after acquiring an additional 123,100 shares during the period. BlackRock Inc. boosted its position in shares of Sangamo Therapeutics by 1.3% in the fourth quarter. BlackRock Inc. now owns 8,430,838 shares of the biopharmaceutical company’s stock valued at $96,785,000 after acquiring an additional 108,527 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Sangamo Therapeutics by 97.4% in the fourth quarter. Two Sigma Advisers LP now owns 203,300 shares of the biopharmaceutical company’s stock valued at $2,334,000 after acquiring an additional 100,300 shares during the period. 57.18% of the stock is owned by hedge funds and other institutional investors.

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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