Insider Selling: Sangamo Therapeutics, Inc. (SGMO) Director Sells $445,470.00 in Stock
Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Director William R. Ringo sold 31,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $14.37, for a total value of $445,470.00. Following the sale, the director now directly owns 31,800 shares of the company’s stock, valued at $456,966. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Sangamo Therapeutics, Inc. (NASDAQ SGMO) opened at 13.75 on Monday. The stock’s market cap is $1.15 billion. Sangamo Therapeutics, Inc. has a one year low of $2.65 and a one year high of $15.05. The company has a 50-day moving average price of $11.44 and a 200 day moving average price of $7.79.
Sangamo Therapeutics (NASDAQ:SGMO) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. Sangamo Therapeutics had a negative return on equity of 38.49% and a negative net margin of 246.39%. The company had revenue of $8.30 million for the quarter, compared to the consensus estimate of $5.82 million. During the same quarter in the prior year, the company earned ($0.38) earnings per share. Sangamo Therapeutics’s revenue was up 124.3% on a year-over-year basis. Equities research analysts expect that Sangamo Therapeutics, Inc. will post ($0.82) earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of SGMO. Teachers Advisors LLC lifted its holdings in Sangamo Therapeutics by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 164,728 shares of the biopharmaceutical company’s stock valued at $502,000 after acquiring an additional 7,693 shares during the period. Wells Fargo & Company MN lifted its holdings in Sangamo Therapeutics by 13.0% in the first quarter. Wells Fargo & Company MN now owns 295,770 shares of the biopharmaceutical company’s stock valued at $1,538,000 after acquiring an additional 34,128 shares during the period. Bank of New York Mellon Corp lifted its holdings in Sangamo Therapeutics by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 333,305 shares of the biopharmaceutical company’s stock valued at $1,732,000 after acquiring an additional 19,142 shares during the period. Parametric Portfolio Associates LLC bought a new position in Sangamo Therapeutics in the first quarter valued at about $578,000. Finally, American International Group Inc. lifted its holdings in Sangamo Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 42,747 shares of the biopharmaceutical company’s stock valued at $222,000 after acquiring an additional 2,818 shares during the period. 63.43% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on SGMO. Wells Fargo & Company reaffirmed an “outperform” rating and set a $30.00 target price (up from $20.00) on shares of Sangamo Therapeutics in a research report on Tuesday, September 5th. Jefferies Group LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Sangamo Therapeutics in a report on Thursday, September 14th. Zacks Investment Research raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Friday, August 18th. ValuEngine raised Sangamo Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, BidaskClub lowered Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Sangamo Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $14.40.
About Sangamo Therapeutics
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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