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Sangamo Biosciences: New 52-Week Low Set Today (SGMO)

By Nick Russo

Shares of Sangamo Biosciences (NASDAQ:SGMO) traded today at $3.45, breaking its 52-week low. Approximately 77,000 shares have changed hands today, as compared to an average 30-day volume of 770,000 shares.

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.

In the past 52 weeks, shares of Sangamo Biosciences have traded between the current low of $3.45 and a high of $13.57 and are now at $3.50. The 200-day and 50-day moving averages have moved 1.12% lower and 0.79% higher over the past week, respectively.

Sangamo Biosciences has overhead space with shares priced $3.50, or 82.8% below the average consensus analyst price target of $20.33. The stock should find initial resistance at its 50-day moving average (MA) of $6.15 and further resistance at its 200-day MA of $7.06.

SmarTrend recommended that its subscribers protect gains by selling shares of Sangamo Biosciences on August 4th, 2016 by issuing a Downtrend alert when the shares were trading at $5.00. Since that call, shares of Sangamo Biosciences have fallen 30.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows sangamo biosciences

Ticker(s): SGMO