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

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SGMO. HC Wainwright lifted their target price on shares of Sangamo Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com initiated coverage on shares of Sangamo Therapeutics in a research report on Sunday, July 28th. They set a “sell” rating on the stock.

Sangamo Therapeutics Price Performance

The stock’s 50 day moving average is $1.24 and its two-hundred day moving average is $0.83. The stock has a market capitalization of $508.06 million, a PE ratio of -3.25 and a beta of 1.10.

Hedge Funds Weigh In On Sangamo Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SGMO. State Board of Administration of Florida Retirement System boosted its stake in shares of Sangamo Therapeutics by 61.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 62,345 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 23,650 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Sangamo Therapeutics in the 2nd quarter valued at approximately $67,000. Meritage Portfolio Management raised its position in shares of Sangamo Therapeutics by 8.6% during the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 6,740 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sangamo Therapeutics during the 2nd quarter valued at approximately $89,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Sangamo Therapeutics by 55.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 38,850 shares during the last quarter. 56.93% of the stock is owned by institutional investors and hedge funds.

Sangamo Therapeutics Company Profile

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.