Sangamo BioSciences Inc. (NASDAQ:SGMO) shares dropped 4.7% during mid-day trading on Tuesday . The stock traded as low as $5.50 and last traded at $5.50, with a volume of 212,483 shares. The stock had previously closed at $5.77.

SGMO has been the topic of several recent research reports. Jefferies Group reiterated a “buy” rating and set a $14.00 target price on shares of Sangamo BioSciences in a report on Thursday, June 9th. Zacks Investment Research cut shares of Sangamo BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Wells Fargo & Co. initiated coverage on shares of Sangamo BioSciences in a report on Tuesday, May 3rd. They set a “buy” rating on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of Sangamo BioSciences in a report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $16.75.

The stock’s market cap is $382.77 million. The firm’s 50 day moving average price is $6.14 and its 200-day moving average price is $6.17.

Sangamo BioSciences (NASDAQ:SGMO) last announced its quarterly earnings results on Monday, May 2nd. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.01. The firm had revenue of $3.94 million for the quarter, compared to analyst estimates of $5.49 million. The company’s revenue was down 70.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. On average, equities analysts predict that Sangamo BioSciences Inc. will post ($0.98) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Sangamo BioSciences stock. California State Teachers Retirement System increased its stake in shares of Sangamo BioSciences Inc. (NASDAQ:SGMO) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,941 shares of the biopharmaceutical company’s stock after buying an additional 2,257 shares during the period. California State Teachers Retirement System owned about 0.18% of Sangamo BioSciences worth $1,177,000 at the end of the most recent quarter.

Sangamo Biosciences Inc is a clinical-stage biopharmaceutical company. The Company is focused on research, development and commercialization of engineered deoxyribonucleic acid (DNA)-binding proteins for therapeutic genome editing and gene regulation. It is engaged in developing zinc finger DNA-binding proteins (ZFP) therapeutics.

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