Sangamo Stock Quick Win by the Algorithm: SGMO Soars After Earnings

Quick Win By The Algorithm

On March 31, 2017, the I Know First algorithm issued a bullish 3-month forecast for Sangamo Therapeutics (NASDAQ: SGMO). SGMO had a signal of 277.5 and a predictability of 0.35. As a result, in accordance with the forecast, the company’s stock delivered a return of 87.23% over the 3-month period, signaling a quick win by the algorithm.

 

 

Sangamo Therapeutics, Inc., a clinical stage biopharmaceutical company, focuses on translating ground-breaking science into genomic therapies that transform patients’ lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company’s proprietary zinc finger DNA-binding protein (ZFP) technology enables specific genome editing and gene regulation.

SGMO Quick Win

Sangamo Therapeutics saw a huge jump in stock price over the past 3 months. This is in part due to beating earnings in Q1 of 2017. SGMO posted an EPS of -0.23, besting analyst estimations of -0.26. While earnings are still negative, SGMO is poised to become profitable in the near future. In addition to the earnings report, Jefferies increased its bullish outlook of the stock.  Jefferies became more bullish after SGMO’s recent showing of its technological progress at a conference. Finally, SGMO and Pfizer announced that the European Medicines Agency (EMA) granted orphan medicinal product designation (OMPD) to SB-525, a clinical stage cDNA gene therapy candidate for hemophilia A. This designation is only given out to treatments that are deemed to treat life threatening illnesses, so there is a lot of optimism from the EMA about one of Sangamo’s most important projects.

Current I Know First subscribers received this bullish SGMO forecast on April 3rd, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.