Insider Selling: Sangamo Biosciences CEO Sells 25,000 Shares of Stock (SGMO)
Sangamo Biosciences (NASDAQ:SGMO) CEO Edward O. Lanphier II sold 25,000 shares of the company’s stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $13.95, for a total value of $348,750.00. Following the completion of the sale, the chief executive officer now directly owns 295,000 shares of the company’s stock, valued at approximately $4,115,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Sangamo Biosciences (NASDAQ:SGMO) remained flat at $14.01 during during mid-day trading trading on Friday. 735,330 shares of the company’s stock traded hands. Sangamo Biosciences has a 52 week low of $8.93 and a 52 week high of $24.69. The stock’s 50-day moving average is $13.47 and its 200-day moving average is $15.90. The company’s market cap is $955.0 million.
Sangamo Biosciences (NASDAQ:SGMO) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.14) by $0.04. The company had revenue of $10.38 million for the quarter, compared to the consensus estimate of $7.84 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The company’s quarterly revenue was up 50.4% on a year-over-year basis. On average, analysts predict that Sangamo Biosciences will post $-0.26 earnings per share for the current fiscal year.
Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Sangamo Biosciences in a research note on Friday, August 1st. They set an “overweight” rating and a $22.00 price target on the stock.
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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