Insider Selling: Sagimet Biosciences (NASDAQ:SGMT) Insider Sells $81,829.20 in Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) insider Elizabeth Rozek sold 10,545 shares of the 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 completion of the sale, the insider directly owned 224,414 shares in the company, valued at $1,741,452.64. This represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sagimet Biosciences Stock Performance

Shares of Sagimet Biosciences stock opened at $7.31 on Friday. Sagimet Biosciences Inc. has a one year low of $4.50 and a one year high of $10.06. The company has a market cap of $238.20 million, a PE ratio of -5.46 and a beta of 3.35. The business has a 50-day simple moving average of $7.13 and a 200-day simple moving average of $6.37.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.06. On average, sell-side analysts predict that Sagimet Biosciences Inc. will post -1.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Canaccord Genuity Group raised their price target on Sagimet Biosciences from $28.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Oppenheimer reiterated an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, May 1st. Guggenheim cut their target price on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Citizens Jmp decreased their target price on Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.57.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in Sagimet Biosciences during the first quarter worth approximately $105,000. Geode Capital Management LLC boosted 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 acquiring an additional 1,600 shares during the period. American Century Companies Inc. boosted its holdings in shares of Sagimet Biosciences by 8.9% in the second quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock valued at $322,000 after acquiring an additional 3,454 shares during the period. XTX Topco Ltd grew its position in shares of Sagimet Biosciences by 137.0% during the second quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock worth $195,000 after acquiring an additional 14,813 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Sagimet Biosciences during the second quarter worth approximately $1,130,000. 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.