David Happel Sells 12,101 Shares of Sagimet Biosciences (NASDAQ:SGMT) Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel sold 12,101 shares of Sagimet Biosciences stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total transaction of $64,861.36. Following the transaction, the chief executive officer directly owned 677,621 shares of the company’s stock, valued at $3,632,048.56. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Sagimet Biosciences Stock Performance

Sagimet Biosciences stock traded down $0.10 during trading hours on Thursday, hitting $5.15. 633,184 shares of the stock were exchanged, compared to its average volume of 777,219. The stock has a market capitalization of $167.49 million, a P/E ratio of -2.89 and a beta of 3.39. The business’s 50-day moving average is $6.01 and its two-hundred day moving average is $7.07. Sagimet Biosciences Inc. has a 12 month low of $1.73 and a 12 month high of $11.41.

Sagimet Biosciences (NASDAQ:SGMT) last announced its earnings results on Thursday, November 13th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.01. On average, equities analysts predict that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citizens Jmp raised their price target on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the company a “market outperform” rating in a report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Thursday, January 22nd. Wall Street Zen lowered Sagimet Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. HC Wainwright reiterated a “buy” rating and issued a $29.00 price target on shares of Sagimet Biosciences in a report on Tuesday, February 3rd. Finally, Barclays initiated coverage on Sagimet Biosciences in a report on Tuesday, January 27th. They set an “equal weight” rating and a $8.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Hedge Funds Weigh In On Sagimet Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. bought a new stake in shares of Sagimet Biosciences in the 4th quarter valued at about $30,000. ANTIPODES PARTNERS Ltd acquired a new position in Sagimet Biosciences during the second quarter valued at approximately $41,000. Wedmont Private Capital bought a new stake in Sagimet Biosciences in the fourth quarter valued at approximately $60,000. Hamilton Lane Advisors LLC acquired a new stake in Sagimet Biosciences in the fourth quarter worth $66,000. Finally, Bank of America Corp DE raised its holdings in Sagimet Biosciences by 81.8% in the second quarter. Bank of America Corp DE now owns 9,943 shares of the company’s stock worth $76,000 after purchasing an additional 4,473 shares during the period. Institutional investors own 87.86% of the company’s stock.

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.