Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Short Interest Update

Key Points

• Short interest surge: As of April 15 short interest rose 14% to 42,883,635 shares, equal to about 10.8% of the company's shares and a short-interest ratio of 6.8 days.
• Negative analyst backdrop: The consensus rating is "Reduce" (1 Buy, 1 Hold, 2 Sell) with an average price target of $5.50, while the stock trades near its 1-year low at $0.12 and has a market cap of roughly $49.4M.
• Material insider sale: SVP Nathalie Dubois-Stringfellow sold 345,942 shares at about $0.26 on April 21, cutting her ownership by ~50.97%; insiders now own 4.10% of the company.

Sangamo Therapeutics, Inc. (NASDAQ:SGMO - Get Free Report) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 42,883,635 shares, an increase of 14.0% from the March 31st total of 37,605,702 shares. Approximately 10.8% of the shares of the company are sold short. Based on an average trading volume of 6,326,924 shares, the short-interest ratio is presently 6.8 days.

Analysts Set New Price Targets

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

Sangamo Therapeutics Price Performance

Shares of NASDAQ SGMO opened at $0.12 on Friday. The stock has a fifty day moving average price of $0.32 and a 200 day moving average price of $0.42. Sangamo Therapeutics has a 1-year low of $0.12 and a 1-year high of $0.79. The company has a market cap of $49.38 million, a PE ratio of -0.27 and a beta of 1.49.

Insider Activity

In other news, SVP Nathalie Dubois-Stringfellow sold 345,942 shares of the firm's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $0.26, for a total transaction of $89,944.92. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Sangamo Therapeutics

Hedge funds have recently modified their holdings of the stock. World Investment Advisors lifted its holdings in shares of Sangamo Therapeutics by 88.5% during the third quarter. World Investment Advisors now owns 42,611 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 20,000 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Sangamo Therapeutics during the fourth quarter worth $31,000. XTX Topco Ltd acquired a new stake in shares of Sangamo Therapeutics during the second quarter worth $41,000. Engineers Gate Manager LP lifted its holdings in shares of Sangamo Therapeutics by 101.7% during the second quarter. Engineers Gate Manager LP now owns 87,425 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 44,078 shares during the period. Finally, State of Wyoming acquired a new stake in Sangamo Therapeutics in the fourth quarter valued at $47,000. 56.92% of the stock is owned by institutional investors and hedge funds.

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.

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