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Sangamo Biosciences: The Losing Streak Continues (SGMO)

By James Quinn

Shares of Sangamo Biosciences (NASDAQ:SGMO) traded at a new 52-week low today of $4.52. This new low was reached on below average trading volume as 139,000 shares traded hands, while the average 30-day volume is approximately 770,000 shares.

In the past 52 weeks, shares of Sangamo Biosciences have traded between the current low of $4.52 and a high of $13.57 and are now at $4.55. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 0.8%.

Sangamo BioSciences, Inc. researches and develops transcription factors in the regulation of genes. These transcription factors are the proteins that turn genes on and off and regulate gene expression by recognizing specific DNA sequences.

Sangamo Biosciences has overhead space with shares priced $4.55, or 77.6% below the average consensus analyst price target of $20.33. Sangamo Biosciences shares should first meet resistance at the 50-day moving average (MA) of $6.15 and find additional resistance at the 200-day MA of $7.06.

SmarTrend is monitoring the recent change of momentum in Sangamo Biosciences. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Sangamo Biosciences in search of a potential trend change.

Keywords: 52 week high/lows sangamo biosciences

Ticker(s): SGMO