Sangamo Therapeutics (SGMO) Lowered to “Neutral” at Guggenheim

Guggenheim cut shares of Sangamo Therapeutics (NASDAQ:SGMO) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. They currently have $18.00 price objective on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on the company. BidaskClub raised Sangamo Therapeutics from a buy rating to a strong-buy rating in a report on Tuesday, October 2nd. Cowen reissued a buy rating on shares of Sangamo Therapeutics in a report on Monday, July 23rd. Zacks Investment Research raised Sangamo Therapeutics from a sell rating to a hold rating in a report on Tuesday, August 14th. ValuEngine downgraded Sangamo Therapeutics from a strong-buy rating to a buy rating in a report on Thursday, September 6th. Finally, Wedbush reissued a hold rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $21.00.

Shares of Sangamo Therapeutics stock traded down $2.46 on Friday, hitting $11.16. The stock had a trading volume of 5,698,240 shares, compared to its average volume of 1,634,710. Sangamo Therapeutics has a 52-week low of $11.02 and a 52-week high of $27.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 7.24 and a current ratio of 7.24. The company has a market capitalization of $1.45 billion, a P/E ratio of -15.94 and a beta of 3.21.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. Sangamo Therapeutics had a negative return on equity of 26.36% and a negative net margin of 105.65%. The business had revenue of $23.56 million during the quarter, compared to the consensus estimate of $26.96 million. During the same period in the previous year, the business earned ($0.15) EPS. The business’s quarterly revenue was up 99.5% on a year-over-year basis. As a group, analysts forecast that Sangamo Therapeutics will post -0.69 earnings per share for the current year.

In other Sangamo Therapeutics news, CFO Kathy Yi sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $15.39, for a total transaction of $76,950.00. Following the completion of the sale, the chief financial officer now directly owns 12,250 shares of the company’s stock, valued at approximately $188,527.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director H Stewart Parker acquired 2,000 shares of Sangamo Therapeutics stock in a transaction on Friday, September 7th. The shares were bought at an average cost of $13.52 per share, with a total value of $27,040.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 30,000 shares of company stock valued at $432,350. 1.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Sangamo Therapeutics by 20.8% during the 2nd quarter. BlackRock Inc. now owns 8,083,121 shares of the biopharmaceutical company’s stock worth $114,780,000 after buying an additional 1,391,067 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Sangamo Therapeutics by 12.0% during the 3rd quarter. Wasatch Advisors Inc. now owns 4,544,596 shares of the biopharmaceutical company’s stock worth $77,031,000 after buying an additional 486,429 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Sangamo Therapeutics during the 2nd quarter worth approximately $5,069,000. Nexthera Capital LP raised its stake in shares of Sangamo Therapeutics by 35.7% during the 2nd quarter. Nexthera Capital LP now owns 1,066,914 shares of the biopharmaceutical company’s stock worth $15,150,000 after buying an additional 280,538 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Sangamo Therapeutics by 42.2% during the 2nd quarter. Wells Fargo & Company MN now owns 789,981 shares of the biopharmaceutical company’s stock worth $11,218,000 after buying an additional 234,346 shares in the last quarter. 64.01% of the stock is owned by hedge funds and other institutional investors.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc focuses on translating science into genomic therapies that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger DNA-binding protein (ZFP) technology enables specific genome editing and gene regulation.

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