Sangamo Therapeutics, Inc. (NASDAQ:SGMO – Get Free Report) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 28,393,792 shares, a decline of 33.8% from the April 15th total of 42,883,635 shares. Based on an average trading volume of 13,050,501 shares, the days-to-cover ratio is currently 2.2 days. Currently, 7.1% of the shares of the company are short sold.
Sangamo Therapeutics Trading Up 16.0%
Shares of NASDAQ SGMO opened at $0.15 on Wednesday. The firm has a 50 day moving average of $0.26 and a 200 day moving average of $0.37. The firm has a market capitalization of $61.31 million, a price-to-earnings ratio of -0.34 and a beta of 1.04. Sangamo Therapeutics has a 12-month low of $0.10 and a 12-month high of $0.77.
Analysts Set New Price Targets
A number of analysts have recently commented on SGMO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sangamo Therapeutics in a research note on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Sangamo Therapeutics in a research note on Tuesday, February 10th. Wall Street Zen lowered shares of Sangamo Therapeutics to a “strong sell” rating in a research note on Saturday, January 31st. Finally, Zacks Research lowered shares of Sangamo Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sangamo Therapeutics currently has an average rating of “Reduce” and an average target price of $5.50.
Insider Activity at Sangamo Therapeutics
In other news, SVP Nathalie Dubois-Stringfellow sold 345,942 shares of Sangamo Therapeutics stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $0.26, for a total value of $89,944.92. Following the completion of the sale, the senior vice president directly owned 332,769 shares in the company, valued at $86,519.94. The trade was a 50.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is owned by corporate insiders.
Institutional Trading of Sangamo Therapeutics
Several large investors have recently added to or reduced their stakes in the business. R Squared Ltd grew its position in Sangamo Therapeutics by 22.2% during the fourth quarter. R Squared Ltd now owns 147,191 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 26,732 shares during the period. Oracle Investment Management Inc. grew its position in Sangamo Therapeutics by 3.1% during the fourth quarter. Oracle Investment Management Inc. now owns 1,035,742 shares of the biopharmaceutical company’s stock valued at $435,000 after buying an additional 31,018 shares during the period. Boothbay Fund Management LLC grew its position in Sangamo Therapeutics by 10.8% during the third quarter. Boothbay Fund Management LLC now owns 353,292 shares of the biopharmaceutical company’s stock valued at $238,000 after buying an additional 34,473 shares during the period. Engineers Gate Manager LP grew its position in Sangamo Therapeutics by 101.7% during the second quarter. Engineers Gate Manager LP now owns 87,425 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 44,078 shares during the period. Finally, Geode Capital Management LLC grew its position in Sangamo Therapeutics by 2.1% during the second quarter. Geode Capital Management LLC now owns 2,332,279 shares of the biopharmaceutical company’s stock valued at $1,263,000 after buying an additional 48,829 shares during the period. 56.92% of the stock is currently owned by institutional investors.
Sangamo Therapeutics Company Profile
Sangamo Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Brisbane, California, that specializes in the development of genomic therapies based on its proprietary zinc finger nuclease (ZFN) technology. Founded in 1995, Sangamo pioneered ZFN-based genome editing to precisely alter DNA sequences for the treatment of serious genetic and rare diseases. The company’s platform encompasses in vivo genome editing, ex vivo cell therapy, and genome regulation approaches, with a focus on durable therapeutic effects through permanent genetic modification or sustained gene expression control.
Through its genome editing programs, Sangamo is advancing multiple product candidates into clinical trials for conditions such as hemophilia A and B, mucopolysaccharidosis types I and II, and lysosomal storage disorders.
Read More
- Five stocks we like better than Sangamo Therapeutics
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
- Brady Corp Wires Up a Massive AI-Powered Breakout
- Why Home Depot’s Sell-Off Could Become a Huge Opportunity
Receive News & Ratings for Sangamo Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sangamo Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
