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

Key Points

• Zacks Research downgraded Sangamo to a "strong sell", joining other bearish firms and leaving the stock with an average analyst rating of "Reduce" and an average target price of $5.50.
• Shares trade around $0.26 (market cap ~$108.5M) after Sangamo missed quarterly expectations—EPS ($0.11) vs. $0.01 expected and revenue $14.23M vs. $40.25M—resulting in very negative margins and outlook.

Sangamo Therapeutics (NASDAQ:SGMO - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Thursday,Zacks.com reports.

A number of other analysts have also commented on the stock. Wall Street Zen lowered shares of Sangamo Therapeutics to a "strong sell" rating in a research report on Saturday, January 31st. HC Wainwright reaffirmed a "buy" rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sangamo Therapeutics in a research report on Thursday, January 22nd. One 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $5.50.

Sangamo Therapeutics Stock Down 3.0%

Shares of SGMO stock opened at $0.26 on Thursday. The company's fifty day simple moving average is $0.35 and its 200-day simple moving average is $0.45. The firm has a market cap of $108.54 million, a PE ratio of -0.60 and a beta of 1.49. Sangamo Therapeutics has a 12 month low of $0.21 and a 12 month high of $0.84.

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

Institutional Trading of Sangamo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGMO. World Investment Advisors raised 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 in the last quarter. Cetera Investment Advisers bought a new stake in Sangamo Therapeutics during the fourth quarter worth $31,000. XTX Topco Ltd bought a new stake in Sangamo Therapeutics during the second quarter worth $41,000. Engineers Gate Manager LP raised 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 in the last quarter. Finally, State of Wyoming acquired a new position in shares of Sangamo Therapeutics in the fourth quarter valued at $47,000. 56.92% of the stock is owned by institutional investors.

Sangamo Therapeutics Company Profile

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.

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