Insider Selling: Sangamo Therapeutics, Inc. (SGMO) VP Sells 15,000 Shares of Stock
Sangamo Therapeutics, Inc. (NASDAQ:SGMO) VP Curt A. Herberts III sold 15,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00. Following the transaction, the vice president now owns 15,833 shares of the company’s stock, valued at approximately $237,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Sangamo Therapeutics, Inc. (NASDAQ SGMO) traded up 6.74% during midday trading on Friday, hitting $14.25. 5,064,205 shares of the stock traded hands. Sangamo Therapeutics, Inc. has a 52-week low of $2.65 and a 52-week high of $15.05. The stock has a 50-day moving average of $9.91 and a 200 day moving average of $6.92. The firm’s market cap is $1.19 billion.
Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.06. Sangamo Therapeutics had a negative net margin of 246.39% and a negative return on equity of 38.49%. The firm had revenue of $8.30 million during the quarter, compared to analyst estimates of $5.82 million. During the same quarter in the prior year, the firm posted ($0.38) earnings per share. Sangamo Therapeutics’s quarterly revenue was up 124.3% on a year-over-year basis. Equities analysts forecast that Sangamo Therapeutics, Inc. will post ($0.82) EPS for the current year.
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Large investors have recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. raised its stake in shares of Sangamo Therapeutics by 35.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 270,000 shares of the biopharmaceutical company’s stock worth $1,404,000 after buying an additional 70,000 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Sangamo Therapeutics during the first quarter worth about $496,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Sangamo Therapeutics during the first quarter worth about $154,000. Wells Fargo & Company MN raised its stake in shares of Sangamo Therapeutics by 13.0% in the first quarter. Wells Fargo & Company MN now owns 295,770 shares of the biopharmaceutical company’s stock worth $1,538,000 after buying an additional 34,128 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Sangamo Therapeutics by 1.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 49,713 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 780 shares in the last quarter. 63.43% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on SGMO shares. Zacks Investment Research lowered shares of Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Wedbush reiterated a “neutral” rating and set a $4.00 price objective (down previously from $6.00) on shares of Sangamo Therapeutics in a research report on Tuesday, May 16th. ValuEngine upgraded shares of Sangamo Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 price objective on shares of Sangamo Therapeutics in a research report on Thursday, June 22nd. Finally, BidaskClub lowered shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.25.
About Sangamo Therapeutics
Sangamo Therapeutics, Inc, formerly Sangamo BioSciences, Inc, is a clinical-stage biotechnology company. The Company is focused on translating science into genomic therapies that transform patients’ lives using the Company’s platform technologies in genome editing, gene therapy, gene regulation and cell therapy.
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