Sangamo Therapeutics (NASDAQ:SGMO) Rating Lowered to Strong Sell at BidaskClub

Sangamo Therapeutics (NASDAQ:SGMO) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday, BidAskClub reports.

SGMO has been the subject of a number of other research reports. Zacks Investment Research raised shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. HC Wainwright started coverage on shares of Sangamo Therapeutics in a report on Monday, August 26th. They issued a “buy” rating and a $16.00 price objective for the company. Wedbush set a $11.00 price objective on shares of Sangamo Therapeutics and gave the company a “hold” rating in a report on Monday, July 8th. Finally, ValuEngine raised shares of Sangamo Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.00.

Shares of Sangamo Therapeutics stock traded down $0.09 during trading hours on Thursday, reaching $8.53. 960,226 shares of the company’s stock were exchanged, compared to its average volume of 1,884,151. Sangamo Therapeutics has a 1 year low of $6.26 and a 1 year high of $15.36. The company has a market capitalization of $986.71 million, a P/E ratio of -12.19 and a beta of 2.81. The business has a fifty day moving average of $10.56 and a two-hundred day moving average of $10.75.

Sangamo Therapeutics (NASDAQ:SGMO) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.09. Sangamo Therapeutics had a negative net margin of 136.73% and a negative return on equity of 27.32%. The business had revenue of $17.55 million during the quarter, compared to analyst estimates of $13.58 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, research analysts anticipate that Sangamo Therapeutics will post -1.32 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Sangamo Therapeutics in the second quarter valued at about $229,000. Artal Group S.A. boosted its stake in Sangamo Therapeutics by 1.3% during the second quarter. Artal Group S.A. now owns 405,000 shares of the biopharmaceutical company’s stock worth $4,362,000 after buying an additional 5,000 shares during the period. Wells Fargo & Company MN boosted its stake in Sangamo Therapeutics by 25.1% during the second quarter. Wells Fargo & Company MN now owns 821,420 shares of the biopharmaceutical company’s stock worth $8,847,000 after buying an additional 164,784 shares during the period. Virtus ETF Advisers LLC purchased a new position in Sangamo Therapeutics during the second quarter worth about $308,000. Finally, Sector Gamma AS boosted its stake in Sangamo Therapeutics by 5.4% during the second quarter. Sector Gamma AS now owns 251,698 shares of the biopharmaceutical company’s stock worth $2,711,000 after buying an additional 12,841 shares during the period. 69.02% of the stock is owned by hedge funds and other institutional investors.

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.

Recommended Story: How can investors benefit from after-hours trading?

Receive News & Ratings for Sangamo Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sangamo Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.