In a filing, Sangamo Therapeutics Inc revealed its 10% Owner BIOGEN INC. unloaded Company’s shares for reported $3.0 million on Sep 26 ’23. In the deal valued at $0.50 per share,6,000,000 shares were sold. As a result of this transaction, BIOGEN INC. now holds 17,652,466 shares worth roughly $9.89 million.
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RBC Capital Mkts downgraded its Sangamo Therapeutics Inc [SGMO] rating to a Sector perform from a an Outperform in a research note published on November 03, 2023; the price target was decreased to $2 from $6. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in late April from “a Neutral” to “an Underperform”. Wedbush also remained covering SGMO and has increased its forecast on February 27, 2023 with a “an Outperform” recommendation from previously “Neutral” rating. BofA Securities revised its rating on January 06, 2023. It rated SGMO as “a Neutral” which previously was an “a Buy”.
Price Performance Review of SGMO
On Friday, Sangamo Therapeutics Inc [NASDAQ:SGMO] saw its stock jump 3.52% to $0.56. Over the last five days, the stock has lost -8.66%. Sangamo Therapeutics Inc shares have risen nearly 3.88% since the year began. Nevertheless, the stocks have fallen -49.61% over the past one year. While a 52-week high of $1.67 was reached on 02/16/24, a 52-week low of $0.29 was recorded on 01/18/24. SMA at 50 days reached $0.5736, while 200 days put it at $0.6281. A total of 1.33 million shares were traded, compared to the trading of 1.38 million shares in the previous session.
Levels Of Support And Resistance For SGMO Stock
The 24-hour chart illustrates a support level at 0.5380, which if violated will result in even more drops to 0.5116. On the upside, there is a resistance level at 0.5854. A further resistance level may holdings at 0.6064. The Relative Strength Index (RSI) on the 14-day chart is 47.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0333, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.76%. Stochastics %K at 23.96% indicates the stock is a holding.
