David Happel Sells 64,051 Shares of Sagimet Biosciences (NASDAQ:SGMT) Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel sold 64,051 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $7.76, for a total transaction of $497,035.76. Following the transaction, the chief executive officer owned 741,570 shares of the company’s stock, valued at approximately $5,754,583.20. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sagimet Biosciences Trading Down 3.2%

SGMT stock opened at $7.04 on Thursday. Sagimet Biosciences Inc. has a 12-month low of $4.50 and a 12-month high of $10.06. The business’s 50-day moving average is $7.13 and its 200 day moving average is $6.37. The stock has a market cap of $229.36 million, a price-to-earnings ratio of -5.25 and a beta of 3.35.

Sagimet Biosciences (NASDAQ:SGMT) last announced its earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. As a group, equities analysts forecast that Sagimet Biosciences Inc. will post -1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SGMT. Guggenheim decreased their price objective on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Friday, July 17th. Oppenheimer reiterated an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, May 1st. Canaccord Genuity Group raised their price target on shares of Sagimet Biosciences from $28.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Citizens Jmp lowered their price target 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. Eight equities 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 company. According to MarketBeat.com, Sagimet Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $25.57.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Sagimet Biosciences by 0.6% in the second quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock valued at $2,023,000 after purchasing an additional 1,600 shares during the period. Landscape Capital Management L.L.C. raised its stake in 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 worth $153,000 after purchasing an additional 3,198 shares during the period. HighTower Advisors LLC raised its stake 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 purchasing an additional 3,408 shares during the period. American Century Companies Inc. boosted its holdings in Sagimet Biosciences by 8.9% in the 2nd 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 holdings in Sagimet Biosciences by 819.2% in the 4th quarter. Royal Bank of Canada now owns 4,927 shares of the company’s stock valued at $29,000 after purchasing an additional 4,391 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

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.