Sangamo BioSciences Inc. (NASDAQ:SGMO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Sangamo BioSciences, Inc. is a leader in the development of novel transcription factors for the regulation of gene expression. Transcription factors are proteins that turn genes on or off by recognizing specific DNA sequences. The Universal Gene Recognition technology platform enables the engineering of a class of transcription factors known as zinc finger DNA binding proteins. “
SGMO has been the topic of several other research reports. Jefferies Group restated a “buy” rating on shares of Sangamo BioSciences in a report on Friday, August 5th. Cowen and Company reiterated a “buy” rating on shares of Sangamo BioSciences in a research report on Wednesday, August 10th. Finally, Janney Montgomery Scott downgraded shares of Sangamo BioSciences from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $8.00 in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Sangamo BioSciences has an average rating of “Buy” and an average price target of $15.30.
Sangamo BioSciences (NASDAQ:SGMO) opened at 4.36 on Wednesday. The company has a 50-day moving average of $4.55 and a 200 day moving average of $5.69. The stock’s market capitalization is $307.89 million. Sangamo BioSciences has a 12 month low of $4.08 and a 12 month high of $9.91.
Sangamo BioSciences (NASDAQ:SGMO) last issued its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.14. Sangamo BioSciences had a negative return on equity of 36.08% and a negative net margin of 261.81%. The company earned $3.70 million during the quarter, compared to analysts’ expectations of $5.38 million. During the same quarter in the prior year, the business posted ($0.17) EPS. The company’s revenue for the quarter was down 56.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sangamo BioSciences will post ($1.11) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in SGMO. Quantitative Systematic Strategies LLC purchased a new stake in shares of Sangamo BioSciences during the second quarter valued at approximately $163,000. Princeton Alpha Management LP purchased a new stake in shares of Sangamo BioSciences during the second quarter valued at approximately $164,000. Janney Montgomery Scott LLC increased its stake in shares of Sangamo BioSciences by 88.5% in the second quarter. Janney Montgomery Scott LLC now owns 29,556 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 13,878 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Sangamo BioSciences during the second quarter valued at approximately $190,000. Finally, Cannell Peter B & Co Inc increased its stake in shares of Sangamo BioSciences by 217.5% in the first quarter. Cannell Peter B & Co Inc now owns 31,750 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 21,750 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.
Sangamo BioSciences Company Profile
Sangamo Biosciences Inc is a clinical-stage biopharmaceutical company. The Company is focused on research, development and commercialization of engineered deoxyribonucleic acid (DNA)-binding proteins for therapeutic genome editing and gene regulation. It is engaged in developing zinc finger DNA-binding proteins (ZFP) therapeutics.
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