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

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

Sagimet Biosciences Trading Down 1.7%

Shares of NASDAQ:SGMT opened at $5.06 on Friday. The company has a market capitalization of $164.55 million, a price-to-earnings ratio of -2.84 and a beta of 3.39. Sagimet Biosciences Inc. has a 12-month low of $1.73 and a 12-month high of $11.41. The business has a 50-day moving average price of $5.96 and a 200 day moving average price of $7.02.

Sagimet Biosciences (NASDAQ:SGMT) last posted its earnings results on Thursday, November 13th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. As a group, equities research analysts predict that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sagimet Biosciences

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of Sagimet Biosciences by 0.6% during the second quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock worth $2,023,000 after buying an additional 1,600 shares in the last quarter. HighTower Advisors LLC lifted its stake in Sagimet Biosciences by 10.1% in the fourth quarter. HighTower Advisors LLC now owns 37,189 shares of the company’s stock worth $220,000 after acquiring an additional 3,408 shares during the last quarter. American Century Companies Inc. lifted its stake in Sagimet Biosciences by 8.9% in the second quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock worth $322,000 after acquiring an additional 3,454 shares during the last quarter. Bank of America Corp DE grew its holdings 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 acquiring an additional 4,473 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Sagimet Biosciences by 31.3% in the 4th quarter. LPL Financial LLC now owns 20,574 shares of the company’s stock valued at $122,000 after purchasing an additional 4,899 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Ratings Changes

SGMT has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $29.00 target price on shares of Sagimet Biosciences in a research report on Tuesday, February 3rd. Citigroup reiterated an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, November 14th. Wall Street Zen lowered Sagimet Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Guggenheim started coverage on Sagimet Biosciences in a research report on Tuesday, February 3rd. They issued a “buy” rating and a $27.00 target price for the company. Finally, Zacks Research lowered shares of Sagimet Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Seven 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 stock. Based on data from MarketBeat.com, Sagimet Biosciences currently has an average rating of “Moderate Buy” and an average price target of $26.00.

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.