Sangamo Therapeutics (SGMO) Posts Earnings Results, Beats Expectations By $0.02 EPS

Sangamo Therapeutics (NASDAQ:SGMO) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.02, Briefing.com reports. The business had revenue of $23.56 million during the quarter, compared to the consensus estimate of $26.96 million. Sangamo Therapeutics had a negative return on equity of 26.36% and a negative net margin of 105.65%. The business’s revenue for the quarter was up 99.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) earnings per share.

SGMO stock traded down $2.46 during trading on Friday, reaching $11.16. 5,698,240 shares of the stock traded hands, 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 current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.45 billion, a PE ratio of -15.94 and a beta of 3.21.

A number of equities research analysts have recently commented on the company. ValuEngine downgraded Sangamo Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. BidaskClub raised Sangamo Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Sangamo Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Wedbush reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Sangamo Therapeutics in a research report on Tuesday, July 24th. Finally, Guggenheim assumed coverage on Sangamo Therapeutics in a research report on Tuesday, October 9th. They issued a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Sangamo Therapeutics has a consensus rating of “Buy” and an average price target of $21.00.

In other news, Director H Stewart Parker purchased 2,000 shares of the stock in a transaction on Friday, September 7th. The stock was purchased at an average price of $13.52 per share, with a total value of $27,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathy Yi sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $15.39, for a total value of $76,950.00. Following the sale, the chief financial officer now directly owns 12,250 shares of the company’s stock, valued at approximately $188,527.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,000 shares of company stock valued at $432,350. 1.20% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Riverhead Capital Management LLC grew its position in Sangamo Therapeutics by 218.0% during the second quarter. Riverhead Capital Management LLC now owns 8,267 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 5,667 shares during the period. Mount Yale Investment Advisors LLC grew its position in Sangamo Therapeutics by 2,202.8% during the second quarter. Mount Yale Investment Advisors LLC now owns 8,359 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 7,996 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Sangamo Therapeutics during the second quarter valued at about $125,000. Tyers Asset Management LLC grew its position in Sangamo Therapeutics by 301.3% during the second quarter. Tyers Asset Management LLC now owns 9,632 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 7,232 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Sangamo Therapeutics during the third quarter valued at about $182,000. 64.01% of the stock is owned by hedge funds and other institutional investors.

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Sangamo Therapeutics Company Profile

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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Earnings History for Sangamo Therapeutics (NASDAQ:SGMO)

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