I am also one of the old timers, who also expected another Celgene. I still have CELG after selling shares or donating shares to charitable trust every year. I think a lot of us got here following RobCos, who had the good sense to leave the stock before the collapse (or maybe after the collapse?). I started buying SGMO at around 10-11 dollars a share, rode it up to the 20's rode it down to 2 and am still on the ride. I have done a few things that have lessened the pain. I bought shares down in the 2's to offset some of my losses. I sold my high priced shares to offset capital gains on other stocks including CELG. I bought and sold extra shares (25% extra shares) on the way back up, always buying back at a lower price than I sold the previous tranche, but never hitting the local top or bottom. I can generally collect between 50 cents and $1.50 in these smaller moves.
I believe in the technology of gene editing and believe that SGMO has the best method and a strong moat with ZFN's. I can see that the area is very competitive and fluid and that other methods are likely to compete. That said, I am still over subscribed to SGMO but will sell off some of the shares on the way up, which I expect to happen. It will be a long ride and each announcement/agreement will cause a pop in share price for which I will try to sell some shares. I am retired and have gotten old holding SGMO and don't rely on SGMO price appreciation for a comfortable retirement, which I already have. If the stock price collapses, I would feel less comfortable. My current cost basis is a bit below $6 a share so my annual gain in this stock is probably only 5% a year which is not terrible.
Ciao,
Rolatzi