Sangamo Therapeutics (NASDAQ:SGMO) Shares Gap Down – Should You Sell?

Shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) gapped down prior to trading 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 Analyst Weigh In

A number of analysts have recently issued reports on the stock. HC Wainwright boosted their target price 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 assumed coverage on shares of Sangamo Therapeutics in a research note on Sunday, July 28th. They issued a “sell” rating on the stock.

Sangamo Therapeutics Trading Down 10.0 %

The firm has a market capitalization of $508.06 million, a P/E ratio of -3.25 and a beta of 1.10. The stock has a 50-day simple moving average of $1.27 and a two-hundred day simple moving average of $0.84.

Institutional Investors Weigh In On Sangamo Therapeutics

Several large investors have recently modified their holdings of SGMO. State Board of Administration of Florida Retirement System lifted its holdings in 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 worth $42,000 after buying an additional 23,650 shares during the period. Meritage Portfolio Management raised its holdings in Sangamo Therapeutics by 8.6% in the third quarter. Meritage Portfolio Management now owns 85,000 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 6,740 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Sangamo Therapeutics by 55.4% during the third 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 last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Sangamo Therapeutics in the 2nd quarter valued at about $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sangamo Therapeutics in the 2nd quarter worth approximately $89,000. 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.