Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down – Time to Sell?

Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) gapped down before the market opened on Tuesday . The stock had previously closed at $2.70, but opened at $2.53. Sangamo Therapeutics shares last traded at $2.72, with a volume of 1,134,260 shares traded.

Wall Street Analysts Forecast Growth

SGMO has been the topic of a number of recent research reports. HC Wainwright upped their target price on shares of Sangamo Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com initiated coverage on Sangamo Therapeutics in a report on Sunday, July 28th. They issued a “sell” rating for the company.

Sangamo Therapeutics Price Performance

The firm has a market cap of $585.10 million, a PE ratio of -1.96 and a beta of 1.10. The business has a 50-day moving average price of $1.20 and a two-hundred day moving average price of $0.82.

Institutional Trading of Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Sangamo Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock worth $956,000 after purchasing an additional 57,125 shares in the last quarter. Meritage Portfolio Management grew its holdings in Sangamo Therapeutics by 8.6% in the 3rd quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 6,740 shares during the period. Golden State Equity Partners grew its holdings in Sangamo Therapeutics by 35.2% in the 3rd quarter. Golden State Equity Partners now owns 266,484 shares of the biopharmaceutical company’s stock valued at $231,000 after buying an additional 69,368 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Sangamo Therapeutics by 55.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 108,945 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 38,850 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in Sangamo Therapeutics by 412.3% in the 3rd 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. Hedge funds and other institutional investors own 56.93% of the company’s stock.

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.