The Potential Rise in the Price of Sangamo Therapeutics Inc. (SGMO) following insiders activity


Sangamo Therapeutics Inc.’s recent filing unveils that its 10% Owner BIOGEN INC. unloaded Company’s shares for reported $0.53 million on Aug 30. In the deal valued at $5.27 per share,100,000 shares were sold. As a result of this transaction, BIOGEN INC. now holds 23,652,466 shares worth roughly $ 62.68 million.

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Then, BIOGEN INC. sold 400,000 shares, generating $2,130,720 in total proceeds. Upon selling the shares at $5.33, the 10% Owner now owns 23,752,466 shares.

Before that, Markels John bought 6,784 shares. Sangamo Therapeutics Inc. shares valued at $25,029 were divested by the Director at a price of $3.69 per share. As a result of the transaction, Markels John now holds 32,484 shares, worth roughly $86082.59999999999.

BofA Securities downgraded its Sangamo Therapeutics Inc. [SGMO] rating to a Neutral from a a Buy in a research note published on Friday, January 06, 2023; the price target was decreased to $5 from $8. PT values the company’s stock at a premium of 47.0 to its Friday closing price. RBC Capital Mkts began covering SGMO with “an Outperform” recommendation on May 04, 2021.

Price Performance Review of SGMO

On Friday, Sangamo Therapeutics Inc. [NASDAQ:SGMO] saw its stock fall -9.08% to $2.65. On the same session, the stock had its day’s lowest price of $2.625, but rose to a high of $2.95. Over the last five days, the stock has lost -10.61%. Sangamo Therapeutics Inc. shares have fallen nearly -15.45% since the year began. Nevertheless, the stocks have fallen -50.65% over the past one year. While a 52-week high of $6.42 was reached on 01/13/23, a 52-week low of $2.72 was recorded on 02/24/23. SMA at 50 days reached $3.25, while 200 days put it at $4.16. A total of 1.6 million shares were traded, compared to the trading of 1.39 million shares in the previous session.

Levels Of Support And Resistance For SGMO Stock

The 24-hour chart illustrates a support level at 2.54, which if violated will result in even more drops to 2.42. On the upside, there is a resistance level at 2.86. A further resistance level may holdings at 3.07. The Relative Strength Index (RSI) on the 14-day chart is 30.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.79%. Stochastics %K at 8.24% indicates the stock is a buying.

How much short interest is there in Sangamo Therapeutics Inc.?

A steep rise in short interest was recorded in Sangamo Therapeutics Inc. stocks on Jan 30, 2023, dropping by -0.44 million shares to a total of 11.92 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 12.36 million shares. There was a decline of -3.69%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.57% of the overall stock float, the days-to-cover ratio (short ratio) fell to 10.4.

Sangamo Therapeutics Inc. [SGMO] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 13,843,728 shares, or roughly 8.45% of the outstanding SGMO shares. In other words, the investor’s shares have risen by 1,311,341 from its previous 13-F filing of 12532387.0. Additionally, Wasatch Advisors, Inc. decreased -3.59% of its stake after which the total value it holdings stand at $44,151,131, while BlackRock Fund Advisors added 16.06% of its stake to hold $38.6 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 2,820,608 shares of Sangamo Therapeutics Inc., while Credit Suisse Asset Management bought 6,029 shares. At present, Dimensional Fund Advisors LP is holding 3,444,283 shares valued at $12.02 million. Rokos Capital Management LLP owned 3,026,210 shares of the company at the time of its most recent 13F filing, worth $10.56 million.

According to FactSet, Sangamo Therapeutics Inc.’s share price will average $11.13 in the next year, based on opinions of analysts polled by the firm. This is up nearly 276.71 percent from its previous closing price of $2.92. Analysts expect Sangamo Therapeutics Inc. stock to reach the higher price of $25.00, while the lowest price estimate is $4.00. However, 10 analysts have rated SGMO stock as an Overweight in their predictions for 2023. The most recent change occurred on January 06, 2021 when Stifel began covering the stock and recommended ‘”a Hold”‘ rating along with a $16 price target.


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