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

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

Insider Buying and Selling at Sangamo Therapeutics

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

Institutional Investors Weigh In On Sangamo Therapeutics

Hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers purchased a new position in Sangamo Therapeutics during the fourth quarter valued at $31,000. XTX Topco Ltd purchased a new position in Sangamo Therapeutics during the second quarter valued at $41,000. State of Wyoming purchased a new position in Sangamo Therapeutics during the fourth quarter valued at $47,000. Engineers Gate Manager LP raised its stake in Sangamo Therapeutics by 101.7% during the second quarter. Engineers Gate Manager LP now owns 87,425 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 44,078 shares during the last quarter. Finally, Hedges Asset Management LLC purchased a new position in Sangamo Therapeutics during the fourth quarter valued at $52,000. 56.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Sangamo Therapeutics Stock Performance

Shares of NASDAQ SGMO traded down $0.01 during mid-day trading on Tuesday, hitting $0.12. 1,196,374 shares of the stock traded hands, compared to its average volume of 8,975,140. Sangamo Therapeutics has a 52 week low of $0.10 and a 52 week high of $0.77. The company has a market cap of $49.38 million, a price-to-earnings ratio of -0.27 and a beta of 1.04. The stock has a fifty day moving average price of $0.26 and a 200-day moving average price of $0.38.

About Sangamo Therapeutics

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.