Sangamo Therapeutics (NASDAQ:SGMO) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Sangamo Therapeutics (NASDAQ:SGMO) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.09, Bloomberg Earnings reports. Sangamo Therapeutics had a negative return on equity of 28.97% and a negative net margin of 136.73%. The firm had revenue of $17.55 million during the quarter, compared to analysts’ expectations of $13.58 million. During the same period last year, the business posted ($0.17) earnings per share. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year.

Sangamo Therapeutics stock opened at $11.77 on Friday. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -16.81 and a beta of 2.93. Sangamo Therapeutics has a 52 week low of $6.26 and a 52 week high of $19.25. The business’s 50-day moving average is $11.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.98 and a current ratio of 3.98.

Several research firms recently commented on SGMO. ValuEngine raised Sangamo Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Wedbush set a $11.00 target price on Sangamo Therapeutics and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, Zacks Investment Research raised Sangamo Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. Sangamo Therapeutics has an average rating of “Buy” and a consensus price target of $13.33.

In related news, CFO Kathy Yi sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 30,512 shares of the company’s stock, valued at $305,120. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SGMO. Charles Schwab Investment Management Inc. grew its stake in shares of Sangamo Therapeutics by 14.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 676,556 shares of the biopharmaceutical company’s stock valued at $7,287,000 after buying an additional 86,660 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Sangamo Therapeutics by 7.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 14,035 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 1,003 shares in the last quarter. Artal Group S.A. grew its stake in shares of Sangamo Therapeutics by 1.3% in the second quarter. Artal Group S.A. now owns 405,000 shares of the biopharmaceutical company’s stock valued at $4,362,000 after buying an additional 5,000 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Sangamo Therapeutics by 438.2% in the second quarter. Bank of Montreal Can now owns 11,813 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 9,618 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Sangamo Therapeutics by 10.1% in the second quarter. Prudential Financial Inc. now owns 13,878 shares of the biopharmaceutical company’s stock valued at $149,000 after buying an additional 1,270 shares in the last quarter. 57.43% of the stock is currently owned by institutional investors.

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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Earnings History for Sangamo Therapeutics (NASDAQ:SGMO)

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