Sangamo Therapeutics (NASDAQ:SGMO) Stock Passes Above 200 Day Moving Average of $4.86

Sangamo Therapeutics, Inc. (NASDAQ:SGMOGet Rating)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.86 and traded as high as $5.35. Sangamo Therapeutics shares last traded at $5.07, with a volume of 1,215,339 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SGMO. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Sangamo Therapeutics in a research note on Monday, June 13th. StockNews.com cut Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 11th.

Sangamo Therapeutics Price Performance

The firm has a market cap of $793.72 million, a price-to-earnings ratio of -4.30 and a beta of 1.32. The company has a fifty day moving average price of $5.27 and a two-hundred day moving average price of $4.86.

Sangamo Therapeutics (NASDAQ:SGMOGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.06. The business had revenue of $29.38 million during the quarter, compared to analyst estimates of $24.63 million. Sangamo Therapeutics had a negative return on equity of 48.06% and a negative net margin of 150.96%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. On average, research analysts expect that Sangamo Therapeutics, Inc. will post -1.29 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Biogen Inc. sold 400,000 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $5.33, for a total value of $2,132,000.00. Following the completion of the sale, the insider now owns 23,752,466 shares in the company, valued at $126,600,643.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Sangamo Therapeutics

Hedge funds have recently modified their holdings of the stock. Lombard Odier Asset Management Switzerland SA lifted its holdings in shares of Sangamo Therapeutics by 9.2% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 1,539,994 shares of the biopharmaceutical company’s stock valued at $11,550,000 after purchasing an additional 130,258 shares during the last quarter. Blair William & Co. IL purchased a new stake in shares of Sangamo Therapeutics during the fourth quarter valued at $2,587,000. Corton Capital Inc. acquired a new position in Sangamo Therapeutics during the fourth quarter valued at $281,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Sangamo Therapeutics during the first quarter valued at $100,000. Finally, Long Focus Capital Management LLC acquired a new position in Sangamo Therapeutics during the fourth quarter valued at $1,838,000. 57.53% of the stock is owned by hedge funds and other institutional investors.

Sangamo Therapeutics Company Profile

(Get Rating)

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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