Sangamo Therapeutics (NASDAQ:SGMO) Trading Down 6.6% – Time to Sell?

Sangamo Therapeutics, Inc. (NASDAQ:SGMO)’s stock price traded down 6.6% during trading on Monday . The company traded as low as $2.65 and last traded at $2.68. 5,727,951 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 6,891,463 shares. The stock had previously closed at $2.87.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. HC Wainwright lifted their target price on shares of Sangamo Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com initiated coverage on shares of Sangamo Therapeutics in a research note on Sunday, July 28th. They set a “sell” rating on the stock.

Sangamo Therapeutics Stock Down 10.0 %

The firm has a market capitalization of $508.06 million, a PE ratio of -3.25 and a beta of 1.10. The stock’s fifty day simple moving average is $1.24 and its 200 day simple moving average is $0.83.

Hedge Funds Weigh In On Sangamo Therapeutics

Several institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its stake in shares of Sangamo Therapeutics by 4.0% in the first quarter. Acadian Asset Management LLC now owns 4,943,260 shares of the biopharmaceutical company’s stock valued at $3,311,000 after acquiring an additional 192,385 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Sangamo Therapeutics by 58.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after buying an additional 1,528,600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sangamo Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after buying an additional 57,125 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Sangamo Therapeutics by 56.3% in the 2nd quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 207,476 shares in the last quarter. Finally, FMR LLC boosted its stake in Sangamo Therapeutics by 16.5% in the 3rd quarter. FMR LLC now owns 544,003 shares of the biopharmaceutical company’s stock worth $471,000 after purchasing an additional 77,032 shares in the last quarter. Institutional investors own 56.93% of the company’s stock.

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.