Sangamo Therapeutics (NASDAQ:SGMO) Stock Rating Lowered by Zacks Investment Research

Sangamo Therapeutics (NASDAQ:SGMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday, 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 equities analysts have also weighed in on SGMO. Wedbush reaffirmed a “hold” rating and set a $11.00 target price on shares of Sangamo Therapeutics in a report on Tuesday, November 12th. ValuEngine raised shares of Sangamo Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. BidaskClub raised shares of Sangamo Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Finally, HC Wainwright began coverage on shares of Sangamo Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $16.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $13.50.

Shares of NASDAQ:SGMO traded up $0.34 during trading on Friday, hitting $9.68. 1,790,605 shares of the stock traded hands, compared to its average volume of 1,785,198. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -13.83 and a beta of 2.79. The company has a fifty day moving average price of $8.92 and a two-hundred day moving average price of $10.26. Sangamo Therapeutics has a 52-week low of $6.26 and a 52-week high of $13.91.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.10. The firm had revenue of $21.96 million during the quarter, compared to analyst estimates of $12.16 million. Sangamo Therapeutics had a negative net margin of 159.12% and a negative return on equity of 30.33%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) EPS. On average, equities research analysts predict that Sangamo Therapeutics will post -1.21 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Sangamo Therapeutics by 13.2% in the 2nd quarter. BlackRock Inc. now owns 9,432,178 shares of the biopharmaceutical company’s stock worth $101,584,000 after acquiring an additional 1,098,030 shares in the last quarter. Vanguard Group Inc. increased its holdings in Sangamo Therapeutics by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,309,161 shares of the biopharmaceutical company’s stock worth $89,490,000 after acquiring an additional 596,573 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in Sangamo Therapeutics by 2.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 6,598,908 shares of the biopharmaceutical company’s stock worth $71,070,000 after acquiring an additional 161,000 shares in the last quarter. Northern Trust Corp boosted its position in shares of Sangamo Therapeutics by 3.9% during the 2nd quarter. Northern Trust Corp now owns 1,373,469 shares of the biopharmaceutical company’s stock valued at $14,793,000 after acquiring an additional 51,137 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Sangamo Therapeutics by 25.1% during the 2nd quarter. Wells Fargo & Company MN now owns 821,420 shares of the biopharmaceutical company’s stock valued at $8,847,000 after acquiring an additional 164,784 shares during the last quarter. 70.63% of the stock is 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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