Sangamo BioSciences Inc. (SGMO) Reaches New 52-Week Low at $4.35
Sangamo BioSciences Inc. (NASDAQ:SGMO)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $4.35 and last traded at $4.37, with a volume of 310,342 shares changing hands. The stock had previously closed at $4.41.
SGMO has been the topic of several research reports. Jefferies Group restated a “buy” rating and set a $14.00 price target on shares of Sangamo BioSciences in a research note on Thursday, June 9th. Zacks Investment Research lowered Sangamo BioSciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Janney Montgomery Scott lowered Sangamo BioSciences from a “buy” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $8.00 in a research note on Thursday, August 4th. Cowen and Company restated a “buy” rating on shares of Sangamo BioSciences in a research note on Wednesday, August 10th. Finally, Wells Fargo & Co. initiated coverage on Sangamo BioSciences in a research note on Tuesday, May 3rd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $15.58.
The firm’s 50 day moving average is $5.53 and its 200-day moving average is $5.93. The company’s market cap is $310.01 million.
Sangamo BioSciences (NASDAQ:SGMO) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.14. The firm earned $3.70 million during the quarter, compared to the consensus estimate of $5.38 million. During the same period last year, the firm earned ($0.17) EPS. Sangamo BioSciences’s quarterly revenue was down 56.0% compared to the same quarter last year. Equities research analysts predict that Sangamo BioSciences Inc. will post ($1.11) earnings per share for the current year.
A hedge fund recently raised its stake in Sangamo BioSciences stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Sangamo BioSciences Inc. (NASDAQ:SGMO) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 357,509 shares of the biopharmaceutical company’s stock after buying an additional 74,625 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.51% of Sangamo BioSciences worth $3,264,000 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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