Sangamo Therapeutics, Inc. (SGMO) is experiencing a notable rise in its stock price today, likely driven by increased investor interest following recent developments. A key factor contributing to this surge is the announcement of a licensing agreement with Astellas Pharma, allowing the use of Sangamo's neurotropic adeno-associated virus capsid, STAC-BBB. This agreement may have bolstered investor confidence in Sangamo's strategic partnerships and its potential for future growth.
Additionally, the stock's upward movement could be influenced by the ongoing investigation by Levi & Korsinsky into possible violations of federal securities laws by Sangamo. Despite the legal scrutiny, the market appears to be focusing on the company's long-term potential and strategic initiatives, particularly in light of the recent termination of its collaboration with Pfizer on the hemophilia A gene therapy. The return of full rights to the program has sparked speculation about Sangamo's next steps, with investors hopeful for new partnerships or independent advancement of the program.
Sangamo Therapeutics' stock is currently trading at $1.32, marking a 17.26% increase from the previous close of $1.13. The stock has reached a high of $1.33 and a low of $1.12 during today's trading session. With a trading volume of 11,823,089 shares, which is 121.18% of its average daily volume, the stock is seeing significant activity.