Sangamo Therapeutics, Inc. (SGMO) is experiencing a notable increase in its stock price today, likely driven by the ongoing investor interest following the recent announcement that the company will regain full rights to its hemophilia A gene therapy program, giroctocogene fitelparvovec. This development comes after Pfizer's decision to cease its involvement in the program, which was disclosed on January 6th. Investors are speculating on Sangamo's next steps, whether it will seek a new partner or advance the program independently, which could potentially enhance its market position.
On Reddit, discussions are focused on the implications of the investigation into potential securities law violations by Sangamo. One user questioned the significance of the investigation, asking, "Is this something worth looking into? Or is this just crap?" Another user expressed frustration with Pfizer's decision, stating, "PFE [Pfizer] fucked us and that's no surprise in retrospect considering the company has been on a cash poor position." Despite these concerns, the sentiment appears to be cautiously optimistic, with some investors viewing the current situation as a strategic opportunity for Sangamo.
The stock is currently trading at $1.47, reflecting an 8.97% increase from the previous close of $1.35. Despite being just half an hour into the trading day, the stock has already seen a volume of 2,202,019 shares, which is 21.86% of its average daily volume of 10,071,593 shares, indicating a strong early interest from investors.