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Strength Seen in Sangamo (SGMO): Can Its 9.6% Jump Turn into More Strength?
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Sangamo Therapeutics (SGMO - Free Report) shares rallied 9.6% in the last trading session to close at $6.28. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.1% loss over the past four weeks.
The rise in shares were attributable to Sangamo’s recent announcement that it initiated dosing patients with its investigational autologous CAR-Treg cell therapy, TX200, in a phase I/II study to prevent kidney transplant rejection by promoting immunological tolerance to the graft. Although the company is evaluating multiple CAR-Treg cell therapies in preclinical studies, TX200 is the company’s first CAR-Treg candidate to enter clinical development. Investors were most likely impressed with this recent developmental progress.
This drug developer is expected to post quarterly loss of $0.32 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $28.78 million, up 9.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sangamo, the consensus EPS estimate for the quarter has been revised 8.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SGMO going forward to see if this recent jump can turn into more strength down the road.
Sangamo is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Mersana Therapeutics, Inc. (MRSN - Free Report) , finished the last trading session 6.1% higher at $4.21. MRSN has returned -9.6% over the past month.
For Mersana Therapeutics, Inc., the consensus EPS estimate for the upcoming report has changed +23% over the past month to -$0.31. This represents a change of +38% from what the company reported a year ago. Mersana Therapeutics, Inc. currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Sangamo (SGMO): Can Its 9.6% Jump Turn into More Strength?
Sangamo Therapeutics (SGMO - Free Report) shares rallied 9.6% in the last trading session to close at $6.28. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.1% loss over the past four weeks.
The rise in shares were attributable to Sangamo’s recent announcement that it initiated dosing patients with its investigational autologous CAR-Treg cell therapy, TX200, in a phase I/II study to prevent kidney transplant rejection by promoting immunological tolerance to the graft. Although the company is evaluating multiple CAR-Treg cell therapies in preclinical studies, TX200 is the company’s first CAR-Treg candidate to enter clinical development. Investors were most likely impressed with this recent developmental progress.
This drug developer is expected to post quarterly loss of $0.32 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $28.78 million, up 9.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sangamo, the consensus EPS estimate for the quarter has been revised 8.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SGMO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sangamo is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Mersana Therapeutics, Inc. (MRSN - Free Report) , finished the last trading session 6.1% higher at $4.21. MRSN has returned -9.6% over the past month.
For Mersana Therapeutics, Inc., the consensus EPS estimate for the upcoming report has changed +23% over the past month to -$0.31. This represents a change of +38% from what the company reported a year ago. Mersana Therapeutics, Inc. currently has a Zacks Rank of #2 (Buy).