Short Interest in Sangamo BioSciences Inc. (SGMO) Declines By 12.2%
Sangamo BioSciences Inc. (NASDAQ:SGMO) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 7,636,100 shares, a decline of 12.2% from the August 31st total of 8,693,947 shares. Based on an average daily volume of 1,017,285 shares, the short-interest ratio is presently 7.5 days. Approximately 11.1% of the shares of the company are short sold.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. raised its position in Sangamo BioSciences by 105.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,850,000 shares of the biopharmaceutical company’s stock valued at $11,193,000 after buying an additional 950,000 shares during the last quarter. Foresite Capital Management III LLC purchased a new stake in shares of Sangamo BioSciences during the first quarter valued at $3,296,000. Numeric Investors LLC boosted its stake in shares of Sangamo BioSciences by 329.2% in the second quarter. Numeric Investors LLC now owns 465,523 shares of the biopharmaceutical company’s stock valued at $2,695,000 after buying an additional 357,054 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Sangamo BioSciences by 140.7% in the first quarter. Renaissance Technologies LLC now owns 504,064 shares of the biopharmaceutical company’s stock valued at $3,050,000 after buying an additional 294,664 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Sangamo BioSciences by 9.5% in the second quarter. Vanguard Group Inc. now owns 2,694,393 shares of the biopharmaceutical company’s stock valued at $15,601,000 after buying an additional 234,286 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. Jefferies Group reissued a “buy” rating and set a $14.00 target price on shares of Sangamo BioSciences in a research report on Thursday, June 9th. Janney Montgomery Scott downgraded shares of Sangamo BioSciences from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $8.00 in a report on Thursday, August 4th. Zacks Investment Research downgraded shares of Sangamo BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Sangamo BioSciences in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $15.30.
Shares of Sangamo BioSciences (NASDAQ:SGMO) opened at 4.89 on Thursday. Sangamo BioSciences has a 12-month low of $4.08 and a 12-month high of $9.91. The stock has a 50 day moving average of $4.53 and a 200 day moving average of $5.73. The stock’s market capitalization is $345.32 million.
Sangamo BioSciences (NASDAQ:SGMO) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.14. Sangamo BioSciences had a negative net margin of 261.81% and a negative return on equity of 36.08%. The business earned $3.70 million during the quarter, compared to analysts’ expectations of $5.38 million. During the same period in the previous 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. Equities research analysts anticipate that Sangamo BioSciences will post ($1.11) EPS for the current fiscal year.
About Sangamo BioSciences
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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