Sangamo BioSciences Inc. (SGMO) Sees Strong Trading Volume
Sangamo BioSciences Inc. (NASDAQ:SGMO) shares saw unusually-strong trading volume on Wednesday . Approximately 1,554,558 shares were traded during trading, an increase of 103% from the previous session’s volume of 766,585 shares.The stock last traded at $5.63 and had previously closed at $5.43.
Several equities research analysts have issued reports on SGMO shares. Jefferies Group restated a “buy” rating and set a $14.00 price objective on shares of Sangamo BioSciences in a report on Thursday, June 9th. Wells Fargo & Co. started coverage on Sangamo BioSciences in a report on Tuesday, May 3rd. They set a “buy” rating on the stock. Zacks Investment Research downgraded Sangamo BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, Wedbush restated an “outperform” rating and set a $30.00 price objective on shares of Sangamo BioSciences in a report on Friday, May 6th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Sangamo BioSciences has an average rating of “Buy” and an average price target of $16.75.
The firm’s 50 day moving average price is $6.08 and its 200 day moving average price is $6.16. The stock’s market capitalization is $396.87 million.
Sangamo BioSciences (NASDAQ:SGMO) last issued its earnings results on Monday, May 2nd. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.01. During the same period in the previous year, the company earned ($0.08) earnings per share. The firm earned $3.94 million during the quarter, compared to analyst estimates of $5.49 million. The business’s revenue for the quarter was down 70.8% on a year-over-year basis. 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. Royce & Associates LLC increased its stake in Sangamo BioSciences Inc. (NASDAQ:SGMO) by 47.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 312,100 shares of the biopharmaceutical company’s stock after buying an additional 100,000 shares during the period. Royce & Associates LLC owned approximately 0.45% of Sangamo BioSciences worth $2,849,000 as of its most recent filing with the SEC.
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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