Sangamo BioSciences Inc. (SGMO) Shares Gap Up to $6.33
Sangamo BioSciences Inc. (NASDAQ:SGMO) shares gapped up before the market opened on Monday . The stock had previously closed at $6.30, but opened at $6.33. Sangamo BioSciences shares last traded at $6.53, with a volume of 355,107 shares.
A number of research analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $30.00 target price on shares of Sangamo BioSciences in a report on Friday, May 6th. Zacks Investment Research lowered Sangamo BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Wells Fargo & Co. assumed coverage on Sangamo BioSciences in a report on Tuesday, May 3rd. They set a “buy” rating on the stock. Finally, Jefferies Group reissued a “buy” rating and set a $14.00 target price on shares of Sangamo BioSciences in a report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $16.75.
The company’s 50-day moving average price is $5.87 and its 200 day moving average price is $6.07. The stock’s market cap is $465.95 million.
Sangamo BioSciences (NASDAQ:SGMO) last announced its quarterly earnings results on Monday, May 2nd. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.01. During the same quarter in the previous year, the company posted ($0.08) EPS. The firm earned $3.94 million during the quarter, compared to the consensus estimate of $5.49 million. The firm’s revenue was down 70.8% on a year-over-year basis. 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 increased its position in shares of Sangamo BioSciences Inc. (NASDAQ:SGMO) by 47.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 0.45% of Sangamo BioSciences worth $2,849,000 at the end of the most recent reporting period.
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.