Sagimet Biosciences Inc. (NASDAQ:SGMT) General Counsel Elizabeth Rozek Sells 10,914 Shares

Sagimet Biosciences Inc. (NASDAQ:SGMT) General Counsel Elizabeth Rozek sold 10,914 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $3.10, for a total transaction of $33,833.40. Following the transaction, the general counsel now owns 160,506 shares in the company, valued at $497,568.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sagimet Biosciences Stock Up 5.5 %

Shares of SGMT stock traded up $0.17 during trading hours on Tuesday, hitting $3.26. 163,685 shares of the company were exchanged, compared to its average volume of 1,065,808. The business has a 50 day moving average of $4.15 and a two-hundred day moving average of $5.58. Sagimet Biosciences Inc. has a 52 week low of $2.13 and a 52 week high of $20.71.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Wednesday, May 15th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.18. As a group, equities research analysts predict that Sagimet Biosciences Inc. will post -1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Sagimet Biosciences in a research report on Friday, June 14th. Leerink Partnrs restated an “outperform” rating on shares of Sagimet Biosciences in a report on Monday, March 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $6.00 price objective (down from $23.00) on shares of Sagimet Biosciences in a report on Friday, June 28th. JMP Securities restated a “market outperform” rating and issued a $48.00 price objective on shares of Sagimet Biosciences in a report on Friday, June 7th. Finally, SVB Leerink initiated coverage on shares of Sagimet Biosciences in a research note on Monday, March 25th. They issued an “outperform” rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Sagimet Biosciences has an average rating of “Moderate Buy” and an average price target of $35.80.

Hedge Funds Weigh In On Sagimet Biosciences

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Sagimet Biosciences by 364.9% during the first quarter. Vanguard Group Inc. now owns 1,139,407 shares of the company’s stock worth $6,176,000 after acquiring an additional 894,319 shares during the period. Ikarian Capital LLC bought a new stake in shares of Sagimet Biosciences during the 1st quarter valued at approximately $2,236,000. Federated Hermes Inc. grew its holdings in shares of Sagimet Biosciences by 24.7% during the 4th quarter. Federated Hermes Inc. now owns 97,276 shares of the company’s stock valued at $527,000 after purchasing an additional 19,276 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Sagimet Biosciences by 215.0% during the 4th quarter. Victory Capital Management Inc. now owns 56,570 shares of the company’s stock valued at $307,000 after purchasing an additional 38,610 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Sagimet Biosciences during the 1st quarter valued at approximately $188,000. 87.86% of the stock is owned by institutional investors.

About Sagimet Biosciences

Sagimet Biosciences Inc, a clinical-stage biopharmaceutical company, develops therapeutics called fatty acid synthase (FASN) inhibitors for the treatment of diseases that result from dysfunctional metabolic pathways in the United States. The company's lead drug candidate is Denifanstat, a once-daily pill and selective FASN inhibitor for the treatment of metabolic dysfunction associated steatohepatitis.