Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO – Get Rating) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.86 and traded as high as $5.35. Sangamo Therapeutics shares last traded at $5.07, with a volume of 1,215,339 shares changing hands.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on SGMO. StockNews.com downgraded Sangamo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 11th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Sangamo Therapeutics in a research note on Monday, June 13th.
Sangamo Therapeutics Price Performance
The firm has a 50 day moving average price of $5.28 and a 200 day moving average price of $4.86.
Insider Buying and Selling
In related news, major shareholder Biogen Inc. sold 400,000 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $5.33, for a total transaction of $2,132,000.00. Following the completion of the sale, the insider now owns 23,752,466 shares in the company, valued at $126,600,643.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by company insiders.
Institutional Trading of Sangamo Therapeutics
Large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in Sangamo Therapeutics in the 4th quarter worth approximately $46,000. Penserra Capital Management LLC bought a new stake in Sangamo Therapeutics in the 1st quarter worth approximately $66,000. Lazard Asset Management LLC increased its stake in Sangamo Therapeutics by 37.9% in the 1st quarter. Lazard Asset Management LLC now owns 12,168 shares of the biopharmaceutical company’s stock worth $70,000 after acquiring an additional 3,342 shares during the last quarter. Brown Advisory Inc. increased its stake in Sangamo Therapeutics by 49.0% in the 2nd quarter. Brown Advisory Inc. now owns 18,779 shares of the biopharmaceutical company’s stock worth $78,000 after acquiring an additional 6,176 shares during the last quarter. Finally, AlphaCrest Capital Management LLC increased its stake in Sangamo Therapeutics by 25.4% in the 1st quarter. AlphaCrest Capital Management LLC now owns 14,419 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 2,919 shares during the last quarter. Institutional investors own 57.53% of the company’s stock.
About Sangamo Therapeutics
Sangamo Therapeutics, Inc, a clinical-stage biotechnology company, focuses on translating science into genomic medicines that transform patients' lives using platform technologies in gene therapy, cell therapy, genome editing, and genome regulation. The company offers zinc finger protein (ZFP), a technology platform for making zinc finger nucleases, which are proteins used in modifying DNA sequences by adding or knocking out specific genes; and ZFP transcription factors proteins used in increasing or decreasing gene expression.
- Get a free copy of the StockNews.com research report on Sangamo Therapeutics (SGMO)
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