Insider Selling: Sagimet Biosciences Inc. (NASDAQ:SGMT) General Counsel Sells $33,833.40 in Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) General Counsel Elizabeth Rozek sold 10,914 shares of the business’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 $33,833.40. Following the completion of the sale, the general counsel now owns 160,506 shares in the company, valued at $497,568.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sagimet Biosciences Stock Performance

NASDAQ SGMT opened at $3.40 on Friday. The stock’s 50-day moving average price is $4.07 and its two-hundred day moving average price is $5.53. Sagimet Biosciences Inc. has a 1 year low of $2.13 and a 1 year high of $20.71.

Sagimet Biosciences (NASDAQ:SGMT) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.18. As a group, equities analysts expect that Sagimet Biosciences Inc. will post -1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SGMT shares. JMP Securities reiterated a “market outperform” rating and issued a $48.00 price target on shares of Sagimet Biosciences in a research report on Friday, June 7th. The Goldman Sachs Group restated a “neutral” rating and set a $6.00 price objective (down previously from $23.00) on shares of Sagimet Biosciences in a report on Friday, June 28th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Sagimet Biosciences in a report on Friday, June 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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 large investors have recently made changes to their positions in the business. ORG Partners LLC acquired a new position in shares of Sagimet Biosciences in the 2nd quarter valued at about $43,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Sagimet Biosciences in the 1st quarter valued at about $113,000. Ikarian Capital LLC acquired a new position in shares of Sagimet Biosciences in the 1st quarter valued at about $2,236,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Sagimet Biosciences in the 1st quarter valued at about $91,000. Finally, American International Group Inc. increased its holdings in shares of Sagimet Biosciences by 312.0% in the 1st quarter. American International Group Inc. now owns 11,372 shares of the company’s stock valued at $62,000 after purchasing an additional 8,612 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Sagimet Biosciences Company Profile

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.