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

Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel sold 12,101 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total transaction of $64,861.36. Following the completion of the transaction, the chief executive officer directly owned 677,621 shares in the company, valued at $3,632,048.56. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Sagimet Biosciences Stock Performance

SGMT opened at $5.15 on Friday. The stock has a market capitalization of $167.48 million, a price-to-earnings ratio of -2.89 and a beta of 3.39. The company has a fifty day moving average of $5.99 and a 200 day moving average of $7.05. Sagimet Biosciences Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $11.41.

Sagimet Biosciences (NASDAQ:SGMT) last announced its quarterly 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 research analysts forecast that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on SGMT shares. HC Wainwright reissued a “buy” rating and set a $29.00 price target on shares of Sagimet Biosciences in a research note on Tuesday, February 3rd. Citigroup reaffirmed an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, November 14th. Barclays started coverage on Sagimet Biosciences in a research report on Tuesday, January 27th. They set an “equal weight” rating and a $8.00 target price for the company. Wall Street Zen cut shares of Sagimet Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Guggenheim began coverage on shares of Sagimet Biosciences in a research note on Tuesday, February 3rd. They set a “buy” rating and a $27.00 price target on the stock. Seven 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Hedge Funds Weigh In On Sagimet Biosciences

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