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Shares of Sangamo Biosciences Fall to a New 52-Week Low

By Shiri Gupta

Sangamo Biosciences (NASDAQ:SGMO) traded today at a new 52-week low of $3.85. So far today approximately 139,000 shares have been exchanged, 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.

Sangamo Biosciences (NASDAQ:SGMO) has potential upside of 421.4% based on a current price of $3.90 and analysts' consensus 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.

Sangamo Biosciences share prices have moved between a 52-week high of $13.57 and the current low of $3.85 and are currently at $3.90 per share. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 0.8%.

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 22.2%. 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