Sagimet Biosciences (NASDAQ:SGMT) CEO David Happel Sells 64,051 Shares of Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel sold 64,051 shares of Sagimet Biosciences stock in a transaction on Monday, July 20th. The stock was sold at an average price of $7.76, for a total transaction of $497,035.76. Following the transaction, the chief executive officer directly owned 741,570 shares of the company’s stock, valued at approximately $5,754,583.20. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sagimet Biosciences Price Performance

NASDAQ:SGMT opened at $7.27 on Wednesday. The company has a market cap of $236.86 million, a P/E ratio of -5.43 and a beta of 3.35. The firm’s fifty day moving average price is $7.12 and its two-hundred day moving average price is $6.36. Sagimet Biosciences Inc. has a one year low of $4.50 and a one year high of $10.27.

Sagimet Biosciences (NASDAQ:SGMT) last posted its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.06. As a group, equities research analysts expect that Sagimet Biosciences Inc. will post -1.15 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on SGMT shares. Guggenheim cut their price objective on shares of Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Friday, July 17th. Citizens Jmp lowered their target price on Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating on the stock in a research note on Tuesday, May 19th. Oppenheimer reissued an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, May 1st. Finally, Canaccord Genuity Group boosted their price target on Sagimet Biosciences from $28.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.57.

Hedge Funds Weigh In On Sagimet Biosciences

A number of hedge funds have recently bought and sold shares of SGMT. Bank of America Corp DE raised its stake in Sagimet Biosciences by 344.1% in the 1st quarter. Bank of America Corp DE now owns 43,858 shares of the company’s stock worth $229,000 after purchasing an additional 33,982 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Sagimet Biosciences by 82.6% in the first quarter. Renaissance Technologies LLC now owns 625,469 shares of the company’s stock valued at $3,268,000 after buying an additional 282,969 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sagimet Biosciences by 99.4% in the first quarter. Dimensional Fund Advisors LP now owns 271,217 shares of the company’s stock valued at $1,415,000 after buying an additional 135,178 shares during the period. Virtu Financial LLC acquired a new stake in Sagimet Biosciences during the fourth quarter worth approximately $62,000. Finally, XTX Topco Ltd increased its stake in Sagimet Biosciences by 53.6% during the 4th quarter. XTX Topco Ltd now owns 91,737 shares of the company’s stock worth $543,000 after acquiring an additional 32,003 shares during the period. 87.86% of the stock is owned by institutional investors.

Sagimet Biosciences Company Profile

Sagimet Biosciences (NASDAQ: SGMT) is a clinical-stage biotechnology company focused on developing novel therapies for fibrotic diseases. The company’s lead program, CM-101, is a first-in-class fusion protein designed to neutralize the chemokine CCL24 and interrupt key drivers of tissue fibrosis. Preclinical data have demonstrated CM-101’s potential to block fibrotic signaling pathways in multiple organ systems, and the company has advanced the program into early-stage clinical evaluation for indications such as nonalcoholic steatohepatitis and systemic sclerosis.

In addition to CM-101, Sagimet maintains a pipeline of preclinical candidates targeting inflammation-driven fibrotic processes.