Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Short Interest Down 33.8% in April

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 28,393,792 shares, a decline of 33.8% from the April 15th total of 42,883,635 shares. Based on an average trading volume of 13,050,501 shares, the days-to-cover ratio is presently 2.2 days. Currently, 7.1% of the company’s shares are sold short.

Insider Activity

In other Sangamo Therapeutics news, SVP Nathalie Dubois-Stringfellow sold 345,942 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $0.26, for a total value of $89,944.92. Following the transaction, the senior vice president owned 332,769 shares in the company, valued at approximately $86,519.94. The trade was a 50.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Sangamo Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Sangamo Therapeutics in the fourth quarter worth about $56,000. Invesco Ltd. grew its holdings in Sangamo Therapeutics by 23.7% in the fourth quarter. Invesco Ltd. now owns 1,000,292 shares of the biopharmaceutical company’s stock worth $420,000 after purchasing an additional 191,561 shares during the period. Oracle Investment Management Inc. grew its holdings in Sangamo Therapeutics by 3.1% in the fourth quarter. Oracle Investment Management Inc. now owns 1,035,742 shares of the biopharmaceutical company’s stock worth $435,000 after purchasing an additional 31,018 shares during the period. XTX Topco Ltd purchased a new stake in Sangamo Therapeutics in the fourth quarter worth about $77,000. Finally, Luminus Management LLC grew its holdings in Sangamo Therapeutics by 363.5% in the fourth quarter. Luminus Management LLC now owns 1,158,761 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 908,761 shares during the period. Hedge funds and other institutional investors own 56.92% of the company’s stock.

Sangamo Therapeutics Price Performance

Shares of NASDAQ SGMO opened at $0.14 on Monday. Sangamo Therapeutics has a 1 year low of $0.10 and a 1 year high of $0.77. The company’s 50-day moving average is $0.27 and its 200 day moving average is $0.38. The stock has a market capitalization of $55.93 million, a P/E ratio of -0.31 and a beta of 1.04.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Sangamo Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Wall Street Zen cut shares of Sangamo Therapeutics to a “strong sell” rating in a research report on Saturday, January 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Sangamo Therapeutics in a research report on Thursday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Sangamo Therapeutics in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $5.50.

Sangamo Therapeutics Company Profile

Sangamo Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Brisbane, California, that specializes in the development of genomic therapies based on its proprietary zinc finger nuclease (ZFN) technology. Founded in 1995, Sangamo pioneered ZFN-based genome editing to precisely alter DNA sequences for the treatment of serious genetic and rare diseases. The company’s platform encompasses in vivo genome editing, ex vivo cell therapy, and genome regulation approaches, with a focus on durable therapeutic effects through permanent genetic modification or sustained gene expression control.

Through its genome editing programs, Sangamo is advancing multiple product candidates into clinical trials for conditions such as hemophilia A and B, mucopolysaccharidosis types I and II, and lysosomal storage disorders.