Sangamo Therapeutics, Inc. (SGMO) is experiencing a notable rise in its stock price today, likely driven by a recent "buy" rating reaffirmed by HC Wainwright, which set a $10.00 price objective on the shares. This positive analyst sentiment may be bolstering investor confidence, especially following the company's recent challenges, including the termination of its collaboration with Pfizer. Additionally, the market may be reacting to the potential of Sangamo's strategic partnerships and the promising prospects of its Fabry program, as highlighted in recent reports.
Despite the ongoing securities fraud investigations announced by multiple law firms, the stock's upward movement suggests that investors are focusing on the company's long-term potential and strategic initiatives. The reaffirmation of a "buy" rating by a reputable research firm could be overshadowing the negative sentiment from the legal investigations, providing a boost to the stock.
Sangamo Therapeutics' stock is currently trading at $1.26, marking an 11.50% increase from the previous close of $1.13. The stock has reached a high of $1.27 and a low of $1.12 so far today. With a trading volume of 8,910,841 shares, which is 91.33% of its average daily volume, the stock is seeing significant activity, especially considering it is still early in the trading day.