Sagimet Biosciences Inc. (NASDAQ:SGMT) Chairman George Kemble Sells 14,062 Shares

Sagimet Biosciences Inc. (NASDAQ:SGMT) Chairman George Kemble sold 14,062 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $3.10, for a total transaction of $43,592.20. Following the completion of the sale, the chairman now directly owns 142,318 shares of the company’s stock, valued at approximately $441,185.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

George Kemble also recently made the following trade(s):

• On Tuesday, July 23rd, George Kemble sold 23,625 shares of Sagimet Biosciences stock. The stock was sold at an average price of $3.17, for a total transaction of $74,891.25.

Sagimet Biosciences Stock Up 7.6 %

Sagimet Biosciences stock opened at $3.40 on Friday. Sagimet Biosciences Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $20.71. The company has a 50 day moving average price of $4.07 and a 200-day moving average price of $5.53.

Sagimet Biosciences (NASDAQ:SGMT) last announced its quarterly earnings data 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, analysts predict that Sagimet Biosciences Inc. will post -1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $6.00 price objective (down previously from $23.00) on shares of Sagimet Biosciences in a research note on Friday, June 28th. JMP Securities reissued a “market outperform” rating and issued a $48.00 price objective on shares of Sagimet Biosciences in a research note on Friday, June 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Sagimet Biosciences in a research note on Friday, June 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Sagimet Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $35.80.

Institutional Investors Weigh In On Sagimet Biosciences

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in shares of Sagimet Biosciences by 215.0% during the fourth quarter. Victory Capital Management Inc. now owns 56,570 shares of the company’s stock valued at $307,000 after buying an additional 38,610 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Sagimet Biosciences by 24.7% during the fourth quarter. Federated Hermes Inc. now owns 97,276 shares of the company’s stock valued at $527,000 after buying an additional 19,276 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Sagimet Biosciences during the first quarter valued at $91,000. Vanguard Group Inc. lifted 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 valued at $6,176,000 after purchasing an additional 894,319 shares during the period. Finally, ORG Partners LLC acquired a new position in Sagimet Biosciences during the second quarter valued at $43,000. 87.86% of the stock is owned by hedge funds and other 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.