403,545 Shares in Sagimet Biosciences Inc. $SGMT Acquired by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP bought a new stake in Sagimet Biosciences Inc. (NASDAQ:SGMT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 403,545 shares of the company’s stock, valued at approximately $3,119,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SGMT. NewEdge Advisors LLC purchased a new position in Sagimet Biosciences during the first quarter worth approximately $105,000. Geode Capital Management LLC grew its stake 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 valued at $2,023,000 after buying an additional 1,600 shares during the period. American Century Companies Inc. grew its stake in shares of Sagimet Biosciences by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock valued at $322,000 after buying an additional 3,454 shares during the period. XTX Topco Ltd increased its holdings in shares of Sagimet Biosciences by 137.0% during the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock worth $195,000 after buying an additional 14,813 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Sagimet Biosciences during the 2nd quarter worth $1,130,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Insider Activity at Sagimet Biosciences

In related news, insider Elizabeth Rozek sold 10,545 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $7.76, for a total transaction of $81,829.20. Following the transaction, the insider directly owned 224,414 shares of the company’s stock, valued at approximately $1,741,452.64. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George Kemble sold 20,206 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $9.95, for a total value of $201,049.70. Following the completion of the transaction, the director owned 62,161 shares of the company’s stock, valued at approximately $618,501.95. This represents a 24.53% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 113,646 shares of company stock worth $920,491. 11.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SGMT has been the topic of a number of research analyst reports. Citizens Jmp lifted their target price on Sagimet Biosciences from $12.00 to $29.00 and gave the company a “market outperform” rating in a report on Friday, August 14th. HC Wainwright restated a “buy” rating and set a $29.00 price target on shares of Sagimet Biosciences in a research note on Tuesday, August 25th. Canaccord Genuity Group lifted their price objective on Sagimet Biosciences from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen cut Sagimet Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Friday, July 17th. Seven 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Sagimet Biosciences Trading Up 0.2%

Shares of NASDAQ SGMT opened at $10.94 on Friday. The stock has a fifty day moving average price of $8.68 and a 200 day moving average price of $7.08. Sagimet Biosciences Inc. has a 12-month low of $4.50 and a 12-month high of $11.24. The company has a market cap of $680.03 million, a P/E ratio of -8.55 and a beta of 3.45.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). On average, sell-side analysts forecast that Sagimet Biosciences Inc. will post -1.2 EPS for the current fiscal year.

Sagimet Biosciences 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.