Sangamo BioSciences Inc. (SGMO) Sees Large Volume Increase
Sangamo BioSciences Inc. (NASDAQ:SGMO) shares saw unusually-strong trading volume on Thursday . Approximately 941,050 shares traded hands during mid-day trading, a decline of 13% from the previous session’s volume of 1,080,424 shares.The stock last traded at $4.21 and had previously closed at $4.13.
A number of equities research analysts have commented on SGMO shares. Janney Montgomery Scott downgraded Sangamo BioSciences from a “buy” rating to a “neutral” rating and reduced their target price for the company from $15.00 to $8.00 in a report on Thursday, August 4th. Cowen and Company reissued a “buy” rating on shares of Sangamo BioSciences in a report on Wednesday, August 10th. Zacks Investment Research cut Sangamo BioSciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Sangamo BioSciences in a research report on Friday, May 6th. Finally, Jefferies Group restated a “buy” rating and issued a $14.00 price target on shares of Sangamo BioSciences in a research report on Thursday, June 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $15.58.
The company has a 50 day moving average price of $5.30 and a 200-day moving average price of $5.88. The company’s market capitalization is $302.25 million.
Sangamo BioSciences (NASDAQ:SGMO) last issued its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.14. During the same period in the prior year, the firm posted ($0.17) EPS. The company earned $3.70 million during the quarter, compared to analysts’ expectations of $5.38 million. Sangamo BioSciences’s revenue was down 56.0% compared to the same quarter last year. On average, equities analysts expect that Sangamo BioSciences Inc. will post ($1.11) earnings per share for the current year.
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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