Sangamo Therapeutics (NASDAQ:SGMO) Stock Price Up 9.2%

Sangamo Therapeutics, Inc. (NASDAQ:SGMO – Get Rating) shares rose 9.2% during trading on Tuesday . The company traded as high as $3.93 and last traded at $3.91. Approximately 24,157 shares were traded during trading, a decline of 99% from the average daily volume of 1,857,514 shares. The stock had previously closed at $3.58.

SGMO has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 11th. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Sangamo Therapeutics in a research report on Monday, June 13th. Finally, Truist Financial cut their target price on shares of Sangamo Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.75.

The firm’s 50-day moving average is $4.12 and its 200-day moving average is $5.62. The company has a market capitalization of $580.89 million, a PE ratio of -3.22 and a beta of 1.63.

Sangamo Therapeutics (NASDAQ:SGMO – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.02. Sangamo Therapeutics had a negative net margin of 156.53% and a negative return on equity of 45.17%. The business had revenue of $28.20 million during the quarter, compared to analyst estimates of $27.29 million. During the same period in the prior year, the business posted ($0.32) earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts forecast that Sangamo Therapeutics, Inc. will post -1.42 EPS for the current fiscal year.

In other Sangamo Therapeutics news, Director John Markels purchased 6,784 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $25,032.96. Following the completion of the transaction, the director now directly owns 32,484 shares in the company, valued at approximately $119,865.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aaron Wealth Advisors LLC bought a new position in shares of Sangamo Therapeutics during the first quarter valued at about $523,000. Ensign Peak Advisors Inc bought a new position in shares of Sangamo Therapeutics during the fourth quarter valued at about $34,000. C M Bidwell & Associates Ltd. bought a new position in shares of Sangamo Therapeutics during the fourth quarter valued at about $40,000. Point72 Hong Kong Ltd bought a new position in shares of Sangamo Therapeutics during the fourth quarter valued at about $46,000. Finally, Brown Advisory Inc. bought a new position in shares of Sangamo Therapeutics during the fourth quarter valued at about $76,000. Institutional investors and hedge funds own 52.40% of the company’s stock.

Sangamo Therapeutics Company Profile (NASDAQ:SGMO)

Sangamo Therapeutics, Inc, a clinical-stage biotechnology company, focuses on translating science into genomic medicines that transform patients' lives using platform technologies in gene therapy, cell therapy, genome editing, and genome regulation. The company offers zinc finger protein (ZFP), a technology platform for making zinc finger nucleases, which are proteins used in modifying DNA sequences by adding or knocking out specific genes; and ZFP transcription factors proteins used in increasing or decreasing gene expression.

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