Sangamo Therapeutics (NASDAQ:SGMO) Stock Price Down 6.6% – What’s Next?

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on SGMO. HC Wainwright upped their price target on shares of Sangamo Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. StockNews.com began coverage on shares of Sangamo Therapeutics in a research note on Sunday, July 28th. They issued a “sell” rating for the company.

Sangamo Therapeutics Stock Down 5.9 %

The firm’s 50-day moving average is $1.16 and its 200-day moving average is $0.80. The company has a market capitalization of $562.20 million, a PE ratio of -2.08 and a beta of 1.10.

Institutional Investors Weigh In On Sangamo Therapeutics

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew 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 worth $3,311,000 after acquiring an additional 192,385 shares during the period. Renaissance Technologies LLC grew its stake in shares of Sangamo Therapeutics by 58.8% in the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock worth $1,479,000 after acquiring an additional 1,528,600 shares during the period. Marshall Wace LLP grew its stake in shares of Sangamo Therapeutics by 56.3% in the second quarter. Marshall Wace LLP now owns 576,219 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 207,476 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sangamo Therapeutics during the first quarter valued at approximately $331,000. Finally, Vontobel Holding Ltd. grew its position in Sangamo Therapeutics by 412.3% during the third quarter. Vontobel Holding Ltd. now owns 300,000 shares of the biopharmaceutical company’s stock valued at $259,000 after buying an additional 241,440 shares during the period. 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.