Sangamo Therapeutics (NASDAQ:SGMO) Downgraded by Wall Street Zen to Strong Sell

Sangamo Therapeutics (NASDAQ:SGMO) was downgraded by research analysts at Wall Street Zen to a “strong sell” rating in a note issued to investors on Saturday.

A number of other research analysts have also recently issued reports on SGMO. Barclays reissued an “equal weight” rating and set a $1.00 price objective (down from $5.00) on shares of Sangamo Therapeutics in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sangamo Therapeutics in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.33.

Sangamo Therapeutics Trading Up 4.4%

NASDAQ SGMO opened at $0.54 on Friday. Sangamo Therapeutics has a 1-year low of $0.36 and a 1-year high of $1.40. The company has a market capitalization of $180.19 million, a price-to-earnings ratio of -1.22 and a beta of 1.29. The stock’s 50 day moving average is $0.44 and its two-hundred day moving average is $0.52.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.08). The company had revenue of $0.58 million for the quarter, compared to the consensus estimate of $34.40 million. Sangamo Therapeutics had a negative return on equity of 813.95% and a negative net margin of 331.28%. On average, analysts predict that Sangamo Therapeutics will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGMO. Meritage Portfolio Management lifted its position in shares of Sangamo Therapeutics by 37.3% during the second quarter. Meritage Portfolio Management now owns 127,000 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 34,500 shares in the last quarter. Wealth Management Associates Inc. increased its holdings in shares of Sangamo Therapeutics by 34.8% in the second quarter. Wealth Management Associates Inc. now owns 307,800 shares of the biopharmaceutical company’s stock valued at $167,000 after purchasing an additional 79,400 shares in the last quarter. R Squared Ltd bought a new position in Sangamo Therapeutics in the 2nd quarter worth approximately $28,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Sangamo Therapeutics by 30.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 90,550 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 21,300 shares in the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in Sangamo Therapeutics during the 2nd quarter worth $102,000. Institutional investors and hedge funds own 56.92% of the company’s stock.

Sangamo Therapeutics Company Profile

Sangamo Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Brisbane, California, that specializes in the development of genomic therapies based on its proprietary zinc finger nuclease (ZFN) technology. Founded in 1995, Sangamo pioneered ZFN-based genome editing to precisely alter DNA sequences for the treatment of serious genetic and rare diseases. The company’s platform encompasses in vivo genome editing, ex vivo cell therapy, and genome regulation approaches, with a focus on durable therapeutic effects through permanent genetic modification or sustained gene expression control.

Through its genome editing programs, Sangamo is advancing multiple product candidates into clinical trials for conditions such as hemophilia A and B, mucopolysaccharidosis types I and II, and lysosomal storage disorders.