Sangamo Therapeutics Inc (SGMO) Stock Price Up 6.7%
Shares of Sangamo Therapeutics Inc (NASDAQ:SGMO) rose 6.7% during mid-day trading on Monday . The company traded as high as $15.05 and last traded at $14.25. Approximately 5,064,289 shares were traded during mid-day trading, an increase of 259% from the average daily volume of 1,412,140 shares. The stock had previously closed at $13.35.
SGMO has been the topic of a number of research reports. Zacks Investment Research downgraded Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. ValuEngine raised Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. BidaskClub downgraded Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and set a $17.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, June 22nd. Finally, Piper Jaffray Companies set a $8.00 target price on Sangamo Therapeutics and gave the company a “hold” rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Sangamo Therapeutics has an average rating of “Hold” and a consensus target price of $10.25.
The firm’s 50-day moving average is $10.04 and its 200-day moving average is $7.00. The company’s market cap is $1.19 billion.
Sangamo Therapeutics (NASDAQ:SGMO) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.06. The company had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $5.82 million. Sangamo Therapeutics had a negative return on equity of 31.34% and a negative net margin of 151.35%. The firm’s quarterly revenue was up 124.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) earnings per share. On average, analysts forecast that Sangamo Therapeutics Inc will post ($0.82) earnings per share for the current year.
In other Sangamo Therapeutics news, VP Curt A. Herberts III sold 11,474 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $10.44, for a total transaction of $119,788.56. Following the completion of the sale, the vice president now owns 23,991 shares of the company’s stock, valued at $250,466.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Curt A. Herberts III sold 15,000 shares of Sangamo Therapeutics stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the sale, the vice president now directly owns 15,833 shares of the company’s stock, valued at $237,495. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,474 shares of company stock valued at $494,789. 8.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Sangamo Therapeutics by 12.4% in the second quarter. Vanguard Group Inc. now owns 3,471,681 shares of the biopharmaceutical company’s stock valued at $30,551,000 after buying an additional 384,031 shares in the last quarter. EcoR1 Capital LLC acquired a new stake in shares of Sangamo Therapeutics in the second quarter valued at $22,599,000. State Street Corp grew its stake in shares of Sangamo Therapeutics by 51.6% in the second quarter. State Street Corp now owns 1,868,285 shares of the biopharmaceutical company’s stock valued at $16,441,000 after buying an additional 636,296 shares in the last quarter. RA Capital Management LLC acquired a new stake in shares of Sangamo Therapeutics in the second quarter valued at $11,000,000. Finally, Granahan Investment Management Inc. MA grew its stake in shares of Sangamo Therapeutics by 333.3% in the first quarter. Granahan Investment Management Inc. MA now owns 1,032,859 shares of the biopharmaceutical company’s stock valued at $5,371,000 after buying an additional 794,508 shares in the last quarter. 63.43% of the stock is owned by institutional investors and hedge funds.
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Sangamo Therapeutics Company Profile
Sangamo Therapeutics, Inc, formerly Sangamo BioSciences, Inc, is a clinical-stage biotechnology company. The Company is focused on translating science into genomic therapies that transform patients’ lives using the Company’s platform technologies in genome editing, gene therapy, gene regulation and cell therapy.
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