Sagimet Biosciences (NASDAQ:SGMT) Insider Elizabeth Rozek Sells 10,545 Shares

Sagimet Biosciences Inc. (NASDAQ:SGMT) insider Elizabeth Rozek sold 10,545 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $7.76, for a total value of $81,829.20. Following the sale, the insider owned 224,414 shares in the company, valued at $1,741,452.64. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sagimet Biosciences Price Performance

NASDAQ SGMT traded down $0.27 during trading hours on Tuesday, reaching $7.18. The company’s stock had a trading volume of 129,525 shares, compared to its average volume of 1,150,016. The firm has a market capitalization of $233.96 million, a price-to-earnings ratio of -5.36 and a beta of 3.35. The company’s 50-day moving average is $7.10 and its two-hundred day moving average is $6.34. Sagimet Biosciences Inc. has a 1-year low of $4.50 and a 1-year high of $10.27.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.06. Equities analysts forecast that Sagimet Biosciences Inc. will post -1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on SGMT. Canaccord Genuity Group boosted their price target on shares of Sagimet Biosciences from $28.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Citizens Jmp dropped their target price on shares of Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 19th. Oppenheimer reiterated an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, May 1st. Guggenheim reduced their price target 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.57.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Sagimet Biosciences by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock worth $2,023,000 after purchasing an additional 1,600 shares during the last quarter. Landscape Capital Management L.L.C. increased its holdings in shares of Sagimet Biosciences by 14.1% in the fourth quarter. Landscape Capital Management L.L.C. now owns 25,901 shares of the company’s stock valued at $153,000 after purchasing an additional 3,198 shares during the last quarter. HighTower Advisors LLC lifted its position in Sagimet Biosciences by 10.1% during the fourth quarter. HighTower Advisors LLC now owns 37,189 shares of the company’s stock worth $220,000 after buying an additional 3,408 shares in the last quarter. American Century Companies Inc. lifted its position in Sagimet Biosciences by 8.9% during the second quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock worth $322,000 after buying an additional 3,454 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Sagimet Biosciences by 819.2% during the fourth quarter. Royal Bank of Canada now owns 4,927 shares of the company’s stock worth $29,000 after buying an additional 4,391 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

About Sagimet Biosciences

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.