Sangamo Therapeutics, Inc. is experiencing a downturn today, with discussions on Reddit highlighting concerns over potential legal actions. A Reddit user pointed out that law firms are targeting Sangamo following Pfizer's decision to discontinue its collaboration on the HemA gene therapy. This has led to speculation about possible Rule 10(b) violations, which are often pursued by a small number of law firms in the biotech sector. These legal actions typically aim to extract settlements rather than secure court judgments, as noted by another user familiar with the process.
Despite being early in the trading day, Sangamo's stock has seen a modest decline of 0.45%, with the price currently at $1.09, down from the previous close of $1.10. The stock opened at $1.11 and has fluctuated between a high of $1.11 and a low of $1.06. Trading volume is relatively low, with 612,279 shares exchanged, representing just 5.81% of the average daily volume of 10,537,491 shares.