Piper Jaffray Cos. Downgrades Sangamo BioSciences Inc. (SGMO) to Neutral
Sangamo BioSciences Inc. (NASDAQ:SGMO) was downgraded by equities research analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday.
Other analysts have also issued research reports about the stock. Jefferies Group reissued a “buy” rating on shares of Sangamo BioSciences in a report on Friday, August 5th. Zacks Investment Research lowered shares of Sangamo BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Cowen and Company reissued a “buy” rating on shares of Sangamo BioSciences in a report on Wednesday, August 10th. Finally, Janney Montgomery Scott lowered shares of Sangamo BioSciences from a “buy” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $8.00 in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $15.30.
Sangamo BioSciences (NASDAQ:SGMO) traded down 9.615% during mid-day trading on Wednesday, hitting $3.525. The stock had a trading volume of 469,101 shares. The company’s market cap is $248.93 million. The company has a 50-day moving average price of $4.51 and a 200 day moving average price of $5.60. Sangamo BioSciences has a 1-year low of $3.50 and a 1-year high of $9.91.
Sangamo BioSciences (NASDAQ:SGMO) last issued its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.14. The company earned $3.70 million during the quarter, compared to analyst estimates of $5.38 million. Sangamo BioSciences had a negative net margin of 261.81% and a negative return on equity of 36.08%. The business’s revenue for the quarter was down 56.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. Equities research analysts forecast that Sangamo BioSciences will post ($1.11) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. boosted its position in shares of 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 worth $11,193,000 after buying an additional 950,000 shares in the last quarter. Numeric Investors LLC boosted its position 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 worth $2,695,000 after buying an additional 357,054 shares in the last quarter. Vanguard Group Inc. boosted its position 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 worth $15,601,000 after buying an additional 234,286 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Sangamo BioSciences during the first quarter worth $1,384,000. Finally, Columbus Circle Investors boosted its position in shares of Sangamo BioSciences by 106.7% in the second quarter. Columbus Circle Investors now owns 293,483 shares of the biopharmaceutical company’s stock worth $1,699,000 after buying an additional 151,487 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.
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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