Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s share price dropped 5.6% during mid-day trading on Wednesday . The stock traded as low as $12.55 and last traded at $12.60. Approximately 1,571,862 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 1,642,500 shares. The stock had previously closed at $13.35.
SGMO has been the subject of several recent research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Sangamo Therapeutics in a research note on Friday, October 13th. Zacks Investment Research upgraded Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, August 18th. ValuEngine upgraded 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 objective on Sangamo Therapeutics and gave the company a “hold” rating in a research note on Thursday, August 10th. Finally, BidaskClub cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Sangamo Therapeutics has an average rating of “Hold” and a consensus price target of $14.40.
The firm’s market capitalization is $1.05 billion. The firm has a 50 day moving average of $14.46 and a 200-day moving average of $9.71.
Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. Sangamo Therapeutics had a negative return on equity of 38.49% and a negative net margin of 246.39%. The firm had revenue of $8.30 million during the quarter, compared to analyst estimates of $5.82 million. During the same quarter last year, the firm earned ($0.38) EPS. Sangamo Therapeutics’s quarterly revenue was up 124.3% on a year-over-year basis. On average, equities analysts forecast that Sangamo Therapeutics, Inc. will post ($0.82) EPS for the current year.
In other Sangamo Therapeutics news, VP Curt A. Herberts III sold 11,474 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $10.44, for a total transaction of $119,788.56. Following the completion of the sale, the vice president now owns 23,991 shares in the company, valued at approximately $250,466.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Curt A. Herberts III sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the sale, the vice president now owns 15,833 shares of the company’s stock, valued at approximately $237,495. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,474 shares of company stock valued at $1,019,009. 5.50% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors lifted its holdings in Sangamo Therapeutics by 13.5% during the 3rd quarter. Nationwide Fund Advisors now owns 44,892 shares of the biopharmaceutical company’s stock worth $673,000 after buying an additional 5,337 shares during the last quarter. Strs Ohio bought a new position in Sangamo Therapeutics during the 3rd quarter worth approximately $451,000. Cookson Peirce & Co. Inc. bought a new position in Sangamo Therapeutics during the 2nd quarter worth approximately $317,000. RA Capital Management LLC bought a new position in Sangamo Therapeutics during the 2nd quarter worth approximately $11,000,000. Finally, State Street Corp lifted its holdings in Sangamo Therapeutics by 51.6% during the 2nd quarter. State Street Corp now owns 1,868,285 shares of the biopharmaceutical company’s stock worth $16,441,000 after buying an additional 636,296 shares during the last quarter. 63.48% of the stock is currently owned by institutional investors.
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.