Insider Selling: Sagimet Biosciences (NASDAQ:SGMT) CEO Sells 12,101 Shares of Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel sold 12,101 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total value of $64,861.36. Following the sale, the chief executive officer directly owned 677,621 shares in the company, valued at $3,632,048.56. The trade was a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sagimet Biosciences Stock Performance

NASDAQ:SGMT traded down $0.10 on Thursday, reaching $5.15. The company’s stock had a trading volume of 633,184 shares, compared to its average volume of 777,219. Sagimet Biosciences Inc. has a 1-year low of $1.73 and a 1-year high of $11.41. The firm has a market cap of $167.49 million, a PE ratio of -2.89 and a beta of 3.39. The business’s 50-day moving average price is $6.01 and its two-hundred day moving average price is $7.07.

Sagimet Biosciences (NASDAQ:SGMT) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.01. As a group, sell-side analysts expect that Sagimet Biosciences Inc. will post -1.6 EPS for the current year.

Institutional Trading of Sagimet Biosciences

A number of hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. bought a new position in shares of Sagimet Biosciences during the fourth quarter worth approximately $30,000. ANTIPODES PARTNERS Ltd acquired a new position in Sagimet Biosciences in the 2nd quarter valued at $41,000. Bank of America Corp DE increased its position in Sagimet Biosciences by 81.8% during the 2nd quarter. Bank of America Corp DE now owns 9,943 shares of the company’s stock worth $76,000 after buying an additional 4,473 shares during the period. Wedmont Private Capital acquired a new stake in shares of Sagimet Biosciences during the fourth quarter worth $60,000. Finally, Hamilton Lane Advisors LLC bought a new stake in shares of Sagimet Biosciences in the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen lowered Sagimet Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 target price on shares of Sagimet Biosciences in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Thursday, January 22nd. Citigroup reaffirmed an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, November 14th. Finally, Citizens Jmp increased their price target on Sagimet Biosciences from $33.00 to $35.00 and gave the company a “market outperform” rating in a research report on Friday, November 14th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.00.

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.