Insider Selling: Philip D. Gregory Sells 15,000 Shares of Sangamo Biosciences Stock (SGMO)
Sangamo Biosciences (NASDAQ:SGMO) SVP Philip D. Gregory sold 15,000 shares of the company’s stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $12.85, for a total transaction of $192,750.00. Following the completion of the transaction, the senior vice president now directly owns 109,347 shares in the company, valued at approximately $1,405,109. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Sangamo Biosciences (NASDAQ:SGMO) traded up 1.08% during mid-day trading on Wednesday, hitting $13.14. 634,948 shares of the company’s stock traded hands. Sangamo Biosciences has a 1-year low of $6.86 and a 1-year high of $24.69. The stock’s 50-day moving average is $13.26 and its 200-day moving average is $15.97. The company’s market cap is $893.0 million.
Sangamo Biosciences (NASDAQ:SGMO) last announced its earnings results on Tuesday, May 6th. The company reported ($0.12) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.13) by $0.01. The company had revenue of $8.10 million for the quarter, compared to the consensus estimate of $6.59 million. During the same quarter last year, the company posted ($0.13) earnings per share. Sangamo Biosciences’s revenue was up 76.1% compared to the same quarter last year. On average, analysts predict that Sangamo Biosciences will post $-0.29 earnings per share for the current fiscal year.
A number of research firms have recently commented on SGMO. Analysts at Zacks upgraded shares of Sangamo Biosciences from an “underperform” rating to a “neutral” rating in a research note on Monday, March 17th. They now have a $23.60 price target on the stock. Analysts at JMP Securities raised their price target on shares of Sangamo Biosciences from $22.00 to $27.00 in a research note on Wednesday, March 12th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $23.15.
Sangamo BioSciences, Inc is a clinical stage biopharmaceutical company. The Company is engaged in the research, development and commercialization of zinc finger deoxyribonucleic acid (NASDAQ:SGMO)-binding proteins (ZFPs), a naturally occurring class of proteins.
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