Sagimet Biosciences (NASDAQ:SGMT) Director Sells $140,576.24 in Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) Director George Kemble sold 18,844 shares of Sagimet Biosciences stock in a transaction on Monday, July 20th. The stock was sold at an average price of $7.46, for a total transaction of $140,576.24. Following the completion of the transaction, the director directly owned 62,161 shares in the company, valued at approximately $463,721.06. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sagimet Biosciences Stock Up 3.8%

Shares of SGMT opened at $7.31 on Friday. The stock has a market capitalization of $238.20 million, a P/E ratio of -5.46 and a beta of 3.35. The firm has a fifty day simple moving average of $7.13 and a two-hundred day simple moving average of $6.37. Sagimet Biosciences Inc. has a twelve month low of $4.50 and a twelve month high of $10.06.

Sagimet Biosciences (NASDAQ:SGMT) last announced its quarterly 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. Sell-side analysts expect that Sagimet Biosciences Inc. will post -1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

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

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.