Sangamo Therapeutics (SGMO) saw its stock price rise by 3.85% to close at $1.35 on January 6th, after opening at the same price. The stock reached an intraday high of $1.45 before settling back. The increase in price was primarily driven by the announcement that Sangamo will regain full rights to its hemophilia A gene therapy program, giroctocogene fitelparvovec, following Pfizer's decision to cease its development. This news, disclosed early on January 6th, has sparked investor interest and speculation about Sangamo's future plans, whether it will seek a new partner or advance the program independently. The trading volume was notably high, at 10,853,440 shares, surpassing the average volume, indicating strong investor interest.
On social media, discussions centered around the potential strategic opportunities for Sangamo, with some users speculating about future deals, such as a possible Fabry deal. Despite concerns about an ongoing investigation into potential securities law violations, the sentiment appeared cautiously optimistic, with some users suggesting that now might be a good time to buy.