Sagimet Biosciences (NASDAQ:SGMT) Insider Elizabeth Rozek Sells 10,545 Shares of Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) insider Elizabeth Rozek sold 10,545 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $7.76, for a total transaction 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 trade represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 SGMT stock opened at $7.27 on Wednesday. The firm has a fifty day moving average of $7.12 and a 200-day moving average of $6.36. The stock has a market cap of $236.86 million, a price-to-earnings ratio of -5.43 and a beta of 3.35. Sagimet Biosciences Inc. has a 52-week low of $4.50 and a 52-week high of $10.27.

Sagimet Biosciences (NASDAQ:SGMT) last issued its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate 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 year.

Institutional Investors Weigh In On Sagimet Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Sagimet Biosciences by 819.2% in the fourth quarter. Royal Bank of Canada now owns 4,927 shares of the company’s stock worth $29,000 after acquiring an additional 4,391 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Sagimet Biosciences during the fourth quarter valued at approximately $30,000. Bank of America Corp DE increased its holdings 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 purchasing an additional 4,473 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Sagimet Biosciences in the fourth quarter valued at approximately $62,000. Finally, Hamilton Lane Advisors LLC bought a new position in Sagimet Biosciences in the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.