NEW YORK, NY / ACCESSWIRE / September 5, 2017 / Sangamo Therapeutics continued seeing gains on Friday after a week of steady moves north. The company moved over 35% last week, riding the coat tails of big news from other companies. Nutanix may have closed the day up flat but the company posted a beat on the top and bottom line in its fourth quarter fiscal financial report. Many analysts are expecting the company to post over $1 billion in revenue for fiscal 2018.
RDI Initiates Coverage on:
Sangamo Therapeutics, Inc.
Sangamo Therapeutics, Inc.'s shares closed up 6.74% on Friday with a little over 5 million shares traded. The stock hit a new 52-week high of $15.05. The stock has seen gains of over 33% last week despite any big news. The biotech company did announce that the first patient has received treatment in the phase 1/2 clinical trial of SB-525, which is Sangamo's gene therapy for patients with Hemophilia A. The big gains last week could be a result of other companies in the gene therapy arena flying higher. Recently Abeona received FDA "breakthrough therapy" designation from the U.S. Food and Drug Administration for its EB-101 gene therapy program, for patients with recessive dystrophic epidermolysis bullosa. Sangamo is developing gene therapies. Sangamo is focused on gene editing with four clinical programs in its pipeline and three pre-clinical programs.
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Nutanix, Inc.'s shares traded flat on Friday with nearly 18 million shares traded. The company reported a better than expected fiscal Q4 report last Thursday. A loss of 33 cents per share, after being adjusted for stock option expense and non-recurring costs, was better than the loss of 38 cents that analysts had been expecting. Revenue at $226.1 million was also ahead of the $217.7 million that the Street had projected. The San Jose, California-based enterprise cloud platform services provider has forecast quarterly revenue of $240 to $250 million for the first quarter on a non-GAAP basis. Analysts had been expected around $231 million according to FactSet. CEO Dheeraj Pandey stated on MarketWatch, "I think we have been very consistent with our forecasts in the past. We are provident about our future numbers." Analysts on average have projected revenue of $1.04 billion or fiscal 2018.
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