Price Action Alert: Could Sangamo Biosciences, Inc. Go Up After Achieving 52 Week Low?

Price Action Alert: Could Sangamo Biosciences, Inc. Go Up After Achieving 52 Week Low?

The stock of Sangamo Biosciences, Inc. (NASDAQ:SGMO) hit a new 52-week low and has $3.27 target or 12.00% below today’s $3.72 share price. The 7 months bearish chart indicates high risk for the $252.66M company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $3.27 price target is reached, the company will be worth $30.32 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 309,228 shares traded hands. Sangamo Biosciences, Inc. (NASDAQ:SGMO) has declined 36.02% since March 14, 2016 and is downtrending. It has underperformed by 41.63% the S&P500.

Analysts await Sangamo Biosciences, Inc. (NASDAQ:SGMO) to report earnings on October, 26. They expect $-0.25 earnings per share, down 92.31% or $0.12 from last year’s $-0.13 per share. After $-0.38 actual earnings per share reported by Sangamo Biosciences, Inc. for the previous quarter, Wall Street now forecasts -34.21% EPS growth.

Sangamo Biosciences, Inc. (NASDAQ:SGMO) Ratings Coverage

Out of 7 analysts covering Sangamo Biosciences (NASDAQ:SGMO), 5 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 71% are positive. Sangamo Biosciences has been the topic of 9 analyst reports since August 8, 2015 according to StockzIntelligence Inc. The rating was maintained by Cowen & Co with “Buy” on Friday, September 4. As per Friday, December 4, the company rating was initiated by Wells Fargo. The firm has “Sell” rating by Zacks given on Tuesday, September 8. On Saturday, August 8 the stock rating was maintained by JP Morgan with “Overweight”. The firm has “Buy” rating given on Wednesday, September 2 by Jefferies. Jefferies reinitiated the stock with “Buy” rating in Friday, October 23 report. The stock of Sangamo Biosciences, Inc. (NASDAQ:SGMO) has “Buy” rating given on Wednesday, September 2 by Wedbush. JP Morgan maintained the shares of SGMO in a report on Thursday, September 3 with “Buy” rating. The stock of Sangamo Biosciences, Inc. (NASDAQ:SGMO) has “Neutral” rating given on Thursday, August 4 by Janney Capital.

According to Zacks Investment Research, “Sangamo BioSciences, Inc. is a leader in the development of novel transcription factors for the regulation of gene expression. Transcription factors are proteins that turn genes on or off by recognizing specific DNA sequences. The Universal Gene Recognition technology platform enables the engineering of a class of transcription factors known as zinc finger DNA binding proteins.”

Insitutional Activity: The institutional sentiment decreased to 0.81 in 2016 Q2. Its down 0.57, from 1.38 in 2016Q1. The ratio is negative, as 20 funds sold all Sangamo Biosciences, Inc. shares owned while 42 reduced positions. 13 funds bought stakes while 37 increased positions. They now own 45.72 million shares or 4.72% less from 47.99 million shares in 2016Q1.
Susquehanna Intll Llp accumulated 0% or 99,518 shares. The Massachusetts-based Cormorant Asset Limited has invested 1.15% in Sangamo Biosciences, Inc. (NASDAQ:SGMO). Fifth Third Comml Bank has 0% invested in the company for 400 shares. Baker Bros Lp, a New York-based fund reported 4.06M shares. Ubs Asset Management Americas last reported 0% of its portfolio in the stock. Wellington Mngmt Grp Llp holds 0% of its portfolio in Sangamo Biosciences, Inc. (NASDAQ:SGMO) for 85,500 shares. Fmr Ltd Liability Co has invested 0% of its portfolio in Sangamo Biosciences, Inc. (NASDAQ:SGMO). Advisory Svcs Ntwk Ltd Liability Corp has invested 0% of its portfolio in Sangamo Biosciences, Inc. (NASDAQ:SGMO). Da Davidson & reported 4,746 shares or 0% of all its holdings. Millennium Mngmt Ltd Liability holds 0.01% or 535,603 shares in its portfolio. Schwab Charles Invest Mgmt Inc accumulated 264,847 shares or 0% of the stock. Moreover, Iguana Health Lc has 0.29% invested in Sangamo Biosciences, Inc. (NASDAQ:SGMO) for 125,000 shares. Princeton Alpha Mgmt L P owns 28,328 shares or 0.03% of their US portfolio. Jpmorgan Chase holds 771 shares or 0% of its portfolio. Voya Invest Mngmt Llc holds 0.02% or 1.18 million shares in its portfolio.

More news for Sangamo Biosciences, Inc. (NASDAQ:SGMO) were recently published by: Fool.com, which released: “Why Sangamo Biosciences, Inc. Fell 29% Today” on August 04, 2016. Prnewswire.com‘s article titled: “Sangamo BioSciences Announces Retirement Of Edward Lanphier As President And …” and published on June 01, 2016 is yet another important article.

SGMO Company Profile

Sangamo Biosciences Inc., incorporated on June 22, 1995, is a clinical-stage biopharmaceutical company. The Firm is focused on the research, development and commercialization of engineered deoxyribonucleic acid (DNA)-binding proteins for therapeutic genome editing and gene regulation. The Firm is engaged in developing zinc finger DNA-binding proteins (ZFP) therapeutics, which are therapeutic products for the treatment of genetic disease. The Company’s ZFP Therapeutic, SB-728, a ZFP nuclease (ZFN)-modified autologous cell product for the treatment of Human immunodeficiency virus infection and acquired immune deficiency syndrome (HIV/AIDS), is the therapeutic application of its ZFN genome editing technology and is being evaluated in an ongoing Phase II study of ZFN-modified T-cells (SB-728-T-1101, Cohort 3) and a Phase I/II study of modified hematopoietic stem cells (SB-728mR-HSPC) in HIV-infected subjects. The Firm has preclinical programs in hemophilia A and other Lysergic acid diethylamide (LSDs), and research stage programs in other monogenic diseases, including certain central nervous system (CNS) disorders and cancer immunotherapy.

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