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

Several equities analysts have recently issued reports on SGMO shares. Zacks Investment Research lowered shares of Sangamo BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of Sangamo BioSciences in a report on Friday, May 6th. Jefferies Group reissued a “buy” rating and issued a $14.00 price target on shares of Sangamo BioSciences in a report on Thursday, June 9th. Finally, Wells Fargo & Co. started coverage on shares of Sangamo BioSciences in a report on Tuesday, May 3rd. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.75.

The company’s market capitalization is $410.76 million. The firm has a 50-day moving average price of $6.08 and a 200 day moving average price of $6.16.

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, beating analysts’ consensus estimates of ($0.24) by $0.01. The company earned $3.94 million during the quarter, compared to analyst estimates of $5.49 million. The business’s quarterly revenue was down 70.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) EPS. On average, equities research analysts predict that Sangamo BioSciences Inc. will post ($0.98) earnings per share for the current year.

An institutional investor recently raised its position in Sangamo BioSciences stock. Royce & Associates LLC raised its stake in shares of 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 institutional investor owned 312,100 shares of the biopharmaceutical company’s stock after buying an additional 100,000 shares during the period. Royce & Associates LLC owned 0.45% of Sangamo BioSciences worth $2,849,000 as of its most recent SEC filing.

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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