Sangamo Therapeutics, Inc. (SGMO) is experiencing a rise in its stock price today, likely due to ongoing investor interest following recent developments. Despite the termination of its collaboration with Pfizer on the hemophilia A gene therapy, giroctocogene fitelparvovec, Sangamo has regained full rights to the program. This move has sparked speculation about the company's next steps, with investors hopeful that Sangamo might secure a new partner or advance the program independently. The positive Phase III trial results previously announced may also be contributing to renewed investor confidence.
The stock opened at $1.13 and has reached a high of $1.21, with a current price of $1.20, marking a 6.60% increase from the previous close of $1.13. Despite being early in the trading day, the volume is at 1,333,331 shares, which is 13.67% of the average daily volume of 9,756,262 shares.