Sangamo Therapeutics (NASDAQ:SGMO) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Sangamo Therapeutics (NASDAQ:SGMO) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.08), Zacks reports. Sangamo Therapeutics had a negative net margin of 77.48% and a negative return on equity of 293.05%. The firm had revenue of $0.58 million during the quarter, compared to analyst estimates of $34.40 million.

Sangamo Therapeutics Price Performance

Shares of NASDAQ SGMO traded up $0.01 during midday trading on Friday, hitting $0.47. The stock had a trading volume of 6,046,373 shares, compared to its average volume of 5,817,381. The firm has a market cap of $142.35 million, a P/E ratio of -1.63 and a beta of 1.25. Sangamo Therapeutics has a fifty-two week low of $0.41 and a fifty-two week high of $3.18. The company’s 50-day simple moving average is $0.60 and its 200 day simple moving average is $0.57.

Institutional Investors Weigh In On Sangamo Therapeutics

Several institutional investors have recently modified their holdings of SGMO. Geode Capital Management LLC raised its position in shares of Sangamo Therapeutics by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,332,279 shares of the biopharmaceutical company’s stock valued at $1,263,000 after acquiring an additional 48,829 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Sangamo Therapeutics during the 2nd quarter valued at about $41,000. Invesco Ltd. boosted its holdings in shares of Sangamo Therapeutics by 40.6% in the second quarter. Invesco Ltd. now owns 680,452 shares of the biopharmaceutical company’s stock valued at $368,000 after buying an additional 196,558 shares during the period. Engineers Gate Manager LP increased its holdings in Sangamo Therapeutics by 101.7% during the 2nd quarter. Engineers Gate Manager LP now owns 87,425 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 44,078 shares in the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of Sangamo Therapeutics by 17.7% during the second quarter. Wasatch Advisors LP now owns 8,084,419 shares of the biopharmaceutical company’s stock worth $4,376,000 after buying an additional 1,215,653 shares in the last quarter. Institutional investors and hedge funds own 56.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SGMO. Weiss Ratings reissued a “sell (e+)” rating on shares of Sangamo Therapeutics in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research note on Thursday, September 4th. Barclays reiterated an “equal weight” rating and set a $1.00 price objective (down from $5.00) on shares of Sangamo Therapeutics in a research note on Friday. Finally, Wall Street Zen upgraded shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.83.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc, a clinical-stage genomic medicine company, focuses on translating science into medicines that transform the lives of patients and families afflicted with serious diseases in the United States. The company's clinical-stage product candidates are ST-920, a gene therapy product candidate, which is in Phase 1/2 clinical study for the treatment of Fabry disease; TX200, a chimeric antigen receptor engineered regulatory T cell (CAR-Treg) therapy product candidate that is in Phase 1/2 clinical study for the prevention of immune-mediated rejection in HLA-A2 mismatched kidney transplantation; SB-525, a gene therapy product candidate, which is in Phase 3 clinical trial for the treatment of moderately severe to severe hemophilia A; BIVV003, a zinc finger nuclease gene-edited cell therapy product candidate that is in Phase 1/2 PRECIZN-1 clinical study for the treatment of sickle cell disease.