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Shares of Sangamo Biosciences Fall Below Previous 52-Week Low

By James Quinn

Shares of Sangamo Biosciences (NASDAQ:SGMO) traded today at $3.50, breaking its 52-week low. Approximately 327,000 shares have changed hands today, as compared to an average 30-day volume of 770,000 shares.

Over the past year, Sangamo Bioscienceshas traded in a range of $3.50 to $13.57 and are now at $3.50. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 1.1%.

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.

Potential upside of 481.0% exists for Sangamo Biosciences, based on a current level of $3.50 and analysts' average consensus price target of $20.33. The stock should run into initial resistance at its 50-day moving average (MA) of $6.15 and subsequent 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 22.0%. 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