Sangamo Therapeutics (NASDAQ:SGMO) Lowered to Strong Sell Rating by Zacks Research

Sangamo Therapeutics (NASDAQ:SGMO) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

SGMO has been the topic of several other reports. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Sangamo Therapeutics in a research report on Tuesday, February 10th. Wall Street Zen downgraded Sangamo Therapeutics to a “strong sell” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sangamo Therapeutics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $5.50.

Sangamo Therapeutics Price Performance

Shares of SGMO opened at $0.26 on Thursday. The firm has a market capitalization of $108.54 million, a PE ratio of -0.60 and a beta of 1.49. The company’s 50-day moving average is $0.35 and its 200-day moving average is $0.45. Sangamo Therapeutics has a fifty-two week low of $0.21 and a fifty-two week high of $0.84.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings data on Monday, March 30th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.12). The company had revenue of $14.23 million during the quarter, compared to the consensus estimate of $40.25 million. Sangamo Therapeutics had a negative net margin of 310.81% and a negative return on equity of 2,662.06%. Analysts predict that Sangamo Therapeutics will post -0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangamo Therapeutics

Hedge funds have recently bought and sold shares of the business. World Investment Advisors increased its position in Sangamo Therapeutics by 88.5% during the third quarter. World Investment Advisors now owns 42,611 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 20,000 shares during the period. Cetera Investment Advisers bought a new position in Sangamo Therapeutics during the fourth quarter worth about $31,000. XTX Topco Ltd bought a new position in Sangamo Therapeutics during the second quarter worth about $41,000. Engineers Gate Manager LP increased its position in Sangamo Therapeutics by 101.7% during the second quarter. Engineers Gate Manager LP now owns 87,425 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 44,078 shares during the period. Finally, Prelude Capital Management LLC bought a new position in Sangamo Therapeutics during the third quarter worth about $67,000. 56.92% of the stock is owned by institutional investors.

About Sangamo Therapeutics

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.