Selling Buzz: Sangamo Therapeutics Inc. [SGMO] 10% Owner BIOGEN INC. sells 100,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Sangamo Therapeutics Inc. shares valued at $526,520 were sold by BIOGEN INC. on Aug 30. At $5.27 per share, BIOGEN INC. sold 100,000 shares. The insider’s holdings dropped to 23,652,466 shares worth approximately $119.92 million following the completion of this transaction.

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Also, BIOGEN INC. sold 400,000 shares, netting a total of over 2,130,720 in proceeds. Following the sale of shares at $5.33 each, the insider now holds 23,752,466 shares.

Before that, Markels John had added 6,784 shares to its account. In a trade valued at $25,029, the Director bought Sangamo Therapeutics Inc. shares for $3.69 each. Upon closing the transaction, the insider’s holdings increased to 6,784 shares, worth approximately $0.16 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 Wednesday, Sangamo Therapeutics Inc. [NASDAQ: SGMO] plunged -4.34% to $5.07. The stock’s lowest price that day was $5.06, but it reached a high of $5.35 in the same session. During the last five days, there has been a drop of approximately -9.30%. Over the course of the year, Sangamo Therapeutics Inc. shares have dropped approximately -32.40%. 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 $5.25, while a 200-day SMA reached $5.42. Nevertheless, trading volume fell to 1.21 million shares from 1.45 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 4.97, which, if violated, would cause prices to drop to 4.87. In the upper region, resistance lies at 5.26. The next price resistance is at 5.45. RSI (Relative Strength Index) is 42.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.28, which suggests the price will decrease in the coming days. Percent R is at 94.74%, indicating bearish 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 12,392,319 shares, which is about 7.92% of the total SGMO shares outstanding. The investor’s shares have appreciated by 1,815,322 from its previous 13-F filing of 10576997.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $61,126,801. BlackRock Fund Advisors acquire a 7.13% interest valued at $51.46 million while SSgA Funds Management, Inc. sold a -35,856 stake. A total of 2,462 shares of Sangamo Therapeutics Inc. were sold by Credit Suisse Asset Management during the quarter, and 242,734 were bought by Dimensional Fund Advisors LP. In its current portfolio, Rokos Capital Management LLP holds 3,026,210 shares valued at $16.34 million.

In terms of Sangamo Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $14.33 in the next 12 months, up nearly 145.28% from the previous closing price of $5.30. Analysts anticipate Sangamo Therapeutics Inc. stock to reach $25.00 by 2022, with the lowest price target being $5.00. 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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