Sangamo Therapeutics (NASDAQ:SGMO) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Sangamo Therapeutics (NASDAQ:SGMO) from a hold rating to a sell rating in a research report report published on Thursday, 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 research analysts have also issued reports on the company. ValuEngine lowered W&T Offshore from a hold rating to a sell rating in a research report on Friday, April 26th. Wedbush set a $11.00 price objective on Sangamo Therapeutics and gave the company a hold rating in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $13.33.



Shares of NASDAQ:SGMO opened at $11.72 on Thursday. The company’s 50-day simple moving average is $10.03. Sangamo Therapeutics has a 1 year low of $6.26 and a 1 year high of $19.25. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 0.04.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.14). Sangamo Therapeutics had a negative net margin of 113.03% and a negative return on equity of 24.67%. The business had revenue of $8.07 million for the quarter, compared to analyst estimates of $27.21 million. Research analysts expect 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 dated Wednesday, May 15th. The stock was sold at an average price of $10.00, for a total value of $50,000.00. Following the transaction, the chief financial officer now directly owns 30,512 shares of the company’s stock, valued at $305,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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. BlackRock Inc. increased its holdings in shares of Sangamo Therapeutics by 1.3% in the fourth quarter. BlackRock Inc. now owns 8,430,838 shares of the biopharmaceutical company’s stock valued at $96,785,000 after purchasing an additional 108,527 shares during the period. Wasatch Advisors Inc. boosted its stake in shares of Sangamo Therapeutics by 26.8% in the first quarter. Wasatch Advisors Inc. now owns 6,437,908 shares of the biopharmaceutical company’s stock worth $61,418,000 after buying an additional 1,359,170 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sangamo Therapeutics by 459.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,239,110 shares of the biopharmaceutical company’s stock worth $14,224,000 after buying an additional 1,017,573 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sangamo Therapeutics by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,129,365 shares of the biopharmaceutical company’s stock worth $12,965,000 after buying an additional 15,750 shares during the last quarter. Finally, Opaleye Management Inc. boosted its stake in shares of Sangamo Therapeutics by 2.0% in the fourth quarter. Opaleye Management Inc. now owns 500,000 shares of the biopharmaceutical company’s stock worth $5,740,000 after buying an additional 10,000 shares during the last quarter. 57.18% of the stock is currently owned by institutional investors and hedge funds.

About Sangamo Therapeutics

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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