Sangamo Therapeutics (NASDAQ:SGMO) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Sangamo Therapeutics, Inc. is a biotechnology company. It focuses on research and development of genomic therapies as well as develops medicines for patient with genetic diseases. The Company’s product pipeline includes SB-525, SB-FIX, SB-318, SB-913, SB-728-T and SB-728-HSPC. Sangamo Therapeutics Inc., formerly known as Sangamo BioSciences Inc., is based in Richmond, United States. “

Several other analysts have also recently commented on the company. Wedbush set a $11.00 target price on Sangamo Therapeutics and gave the stock a hold rating in a report on Monday, July 8th. ValuEngine cut W&T Offshore from a hold rating to a sell rating in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Sangamo Therapeutics presently has a consensus rating of Buy and a consensus target price of $13.33.

Sangamo Therapeutics stock opened at $11.60 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $10.33. Sangamo Therapeutics has a 52-week low of $6.26 and a 52-week high of $19.25. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -16.57 and a beta of 2.98.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.14). Sangamo Therapeutics had a negative return on equity of 24.67% and a negative net margin of 113.03%. The company had revenue of $8.07 million for the quarter, compared to analyst estimates of $27.21 million. On average, sell-side analysts forecast that Sangamo Therapeutics will post -1.46 EPS for the current fiscal year.

In other news, CFO Kathy Yi sold 5,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $10.00, for a total transaction of $50,000.00. Following the sale, the chief financial officer now owns 30,512 shares in the company, valued at $305,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. boosted its holdings in Sangamo Therapeutics by 2.7% in the fourth quarter. Macquarie Group Ltd. now owns 53,852 shares of the biopharmaceutical company’s stock valued at $618,000 after acquiring an additional 1,400 shares during the last quarter. Legal & General Group Plc boosted its holdings in Sangamo Therapeutics by 9.3% in the fourth quarter. Legal & General Group Plc now owns 18,066 shares of the biopharmaceutical company’s stock valued at $208,000 after acquiring an additional 1,534 shares during the last quarter. Vanguard Capital Wealth Advisors boosted its holdings in Sangamo Therapeutics by 9.1% in the first quarter. Vanguard Capital Wealth Advisors now owns 23,080 shares of the biopharmaceutical company’s stock valued at $220,000 after acquiring an additional 1,930 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in Sangamo Therapeutics by 0.9% in the first quarter. Pictet Asset Management Ltd. now owns 434,941 shares of the biopharmaceutical company’s stock valued at $4,149,000 after acquiring an additional 3,947 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Sangamo Therapeutics by 47.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,032 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 4,184 shares during the last quarter. Institutional investors own 57.18% of the company’s stock.

Sangamo Therapeutics Company Profile

Sangamo Therapeutics, Inc focuses on translating science into genomic medicines that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger proteins (ZFPs) could be engineered to make zinc finger nucleases (ZFNs), proteins that could be used to modify DNA sequences by adding or knocking out specific genes or genome editing; and ZFP transcription factors (ZFP TFs) proteins that can be used to increase or decrease gene expression or gene regulation.

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