Sagimet Biosciences Inc. (NASDAQ:SGMT) Chairman Sells $74,891.25 in Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) Chairman George Kemble sold 23,625 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $3.17, for a total value of $74,891.25. Following the transaction, the chairman now directly owns 118,693 shares of the company’s stock, valued at $376,256.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, July 19th, George Kemble sold 14,062 shares of Sagimet Biosciences stock. The shares were sold at an average price of $3.10, for a total value of $43,592.20.

Sagimet Biosciences Price Performance

NASDAQ:SGMT opened at $3.42 on Friday. The firm has a fifty day simple moving average of $4.04 and a 200 day simple moving average of $5.52. Sagimet Biosciences Inc. has a 1-year low of $2.13 and a 1-year high of $20.71.

Sagimet Biosciences (NASDAQ:SGMT) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate 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 Analysts Forecast Growth

Several brokerages have recently weighed in on SGMT. 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. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $6.00 target price (down previously from $23.00) on shares of Sagimet Biosciences in a research report on Friday, June 28th. Finally, JMP Securities reissued a “market outperform” rating and set a $48.00 price target on shares of Sagimet Biosciences in a research report on Friday, June 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Sagimet Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $35.80.

Hedge Funds Weigh In On Sagimet Biosciences

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Sagimet Biosciences by 364.9% in the first quarter. Vanguard Group Inc. now owns 1,139,407 shares of the company’s stock valued at $6,176,000 after buying an additional 894,319 shares during the last quarter. Ikarian Capital LLC bought a new stake in Sagimet Biosciences in the 1st quarter valued at $2,236,000. Federated Hermes Inc. lifted its holdings in 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. boosted its position in Sagimet Biosciences by 215.0% during the fourth quarter. Victory Capital Management Inc. now owns 56,570 shares of the company’s stock worth $307,000 after purchasing an additional 38,610 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Sagimet Biosciences in the first quarter valued at $188,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

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.