Sangamo Therapeutics (NASDAQ:SGMO) released its earnings results on Thursday. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02, Briefing.com reports. Sangamo Therapeutics had a negative net margin of 105.65% and a negative return on equity of 26.36%. The company had revenue of $23.56 million during the quarter, compared to analysts’ expectations of $26.96 million. During the same quarter last year, the business earned ($0.15) EPS. The business’s revenue was up 99.5% on a year-over-year basis.
Shares of SGMO traded down $2.46 during trading hours on Friday, reaching $11.16. The company had a trading volume of 5,698,240 shares, compared to its average volume of 1,634,710. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.07. Sangamo Therapeutics has a 12-month low of $11.02 and a 12-month high of $27.50.
In other news, CFO Kathy Yi sold 5,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $15.39, for a total value of $76,950.00. Following the completion of the transaction, the chief financial officer now owns 12,250 shares in the company, valued at approximately $188,527.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director H Stewart Parker purchased 2,000 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was bought at an average price of $13.52 per share, with a total value of $27,040.00. The disclosure for this purchase can be found here. Insiders sold a total of 30,000 shares of company stock valued at $432,350 in the last quarter. Insiders own 1.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Artal Group S.A. increased its holdings in shares of Sangamo Therapeutics by 50.0% in the 3rd quarter. Artal Group S.A. now owns 300,000 shares of the biopharmaceutical company’s stock valued at $5,085,000 after purchasing an additional 100,000 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Sangamo Therapeutics by 3.0% in the 3rd quarter. BlackRock Inc. now owns 8,322,311 shares of the biopharmaceutical company’s stock valued at $141,063,000 after purchasing an additional 239,190 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Sangamo Therapeutics by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 454,735 shares of the biopharmaceutical company’s stock valued at $7,708,000 after purchasing an additional 7,472 shares in the last quarter. Swiss National Bank increased its holdings in shares of Sangamo Therapeutics by 2.3% in the 3rd quarter. Swiss National Bank now owns 177,060 shares of the biopharmaceutical company’s stock valued at $3,001,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Wasatch Advisors Inc. increased its holdings in shares of Sangamo Therapeutics by 12.0% in the 3rd quarter. Wasatch Advisors Inc. now owns 4,544,596 shares of the biopharmaceutical company’s stock valued at $77,031,000 after purchasing an additional 486,429 shares in the last quarter. Institutional investors and hedge funds own 64.01% of the company’s stock.
SGMO has been the subject of several recent analyst reports. BidaskClub upgraded shares of Sangamo Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Cowen restated a “buy” rating on shares of Sangamo Therapeutics in a research note on Monday, July 23rd. Zacks Investment Research upgraded shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine cut shares of Sangamo Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 6th. Finally, Wedbush restated a “hold” rating and issued a $10.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $21.00.
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About Sangamo Therapeutics
Sangamo Therapeutics, Inc focuses on translating science into genomic therapies that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger DNA-binding protein (ZFP) technology enables specific genome editing and gene regulation.
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