Buying Buzz: Sangamo Therapeutics Inc. [SGMO] Director Markels John purchases 6,784 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sangamo Therapeutics Inc. shares valued at $25,029 were purchased by Markels John on Jun 03. At $3.69 per share, Markels John acquired 6,784 shares. The insider’s holdings grew to 32,484 shares worth approximately $0.15 million following the completion of this transaction.


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Also, PARKER H STEWART purchased 5,000 shares, netting a total of over 17,996 in proceeds. Following the buying of shares at $3.60 each, the insider now holds 48,700 shares.

Before that, BIOGEN INC. had sold 2,764 shares from its account. In a trade valued at $23,522, the 10% Owner traded Sangamo Therapeutics Inc. shares for $8.51 each. Upon closing the transaction, the insider’s holdings decreased to 2,764 shares, worth approximately $115.21 million.

Analysts at RBC Capital Mkts started covering the stock with ‘”an Outperform”‘ outlook in a report released in early May. Earlier on January 06, 2021, Stifel initiated its rating. Their recommendation was “a Hold” for SGMO stock.

Analyzing SGMO’s Price Performance

On Thursday, Sangamo Therapeutics Inc. [NASDAQ: SGMO] plunged -0.63% to $4.77. The stock’s lowest price that day was $4.62, but it reached a high of $4.81 in the same session. During the last five days, there has been a surge of approximately 7.19%. Over the course of the year, Sangamo Therapeutics Inc. shares have dropped approximately -36.40%. Shares of the company reached a 52-week high of $7.99 on 01/04/22 and a 52-week low of $3.12 on 06/16/22. A 50-day SMA is recorded $4.16, while a 200-day SMA reached $5.98. Nevertheless, trading volume fell to 2.14 million shares from 1.6 million shares the previous day.

Support And Resistance Levels for Sangamo Therapeutics Inc. (SGMO)

According to the 24-hour chart, there is a support level at 4.66, which, if violated, would cause prices to drop to 4.54. In the upper region, resistance lies at 4.85. The next price resistance is at 4.92. RSI (Relative Strength Index) is 59.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.12, which suggests the price will decrease in the coming days. Percent R is at 33.72%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Sangamo Therapeutics Inc. subject to short interest?

Stocks of Sangamo Therapeutics Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.18 million shares to 10.32 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.5 million shares. A decline of -1.74% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.52 of the overall float, the days-to-cover ratio (short ratio) decline to 5.52.

Which companies own the most shares of Sangamo Therapeutics Inc. (SGMO)?

According to Wasatch Advisors, Inc. filings, the company currently owns 10,576,997 shares, which is about 7.21% of the total SGMO shares outstanding. The investor’s shares have plunged by -383,985 from its previous 13-F filing of 10960982.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $40,696,833. BlackRock Fund Advisors reduced a -0.54% interest valued at $36.82 million while SSgA Funds Management, Inc. purchased a 1,570,740 stake. A total of 205,354 shares of Sangamo Therapeutics Inc. were bought by Credit Suisse Asset Management during the quarter, and 614,426 were bought by Dimensional Fund Advisors LP. In its current portfolio, Geode Capital Management LLC holds 2,092,371 shares valued at $8.66 million.

In terms of Sangamo Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $14.49 in the next 12 months, up nearly 170.83% from the previous closing price of $4.80. Analysts anticipate Sangamo Therapeutics Inc. stock to reach $25.00 by 2022, with the lowest price target being $4.40. In spite of this, 11 analysts ranked Sangamo Therapeutics Inc. stock as an Overweight at the end of 2022. On December 16, 2020, H.C. Wainwright assigned a price target of “a Buy” to the stock and resumed coverage with a $25.

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