Elizabeth Rozek Sells 10,545 Shares of Sagimet Biosciences (NASDAQ:SGMT) Stock

Key Points

• Elizabeth Rozek sold 10,545 Sagimet Biosciences shares at an average price of $7.76, generating $81,829.20. The sale covered tax-withholding obligations tied to vested equity awards, leaving her with 224,414 shares.
• Sagimet shares recently traded at $7.18, with a market capitalization of approximately $234 million. The company reported quarterly EPS of negative $0.33, ahead of the consensus estimate of negative $0.39.
• Analyst sentiment remains broadly positive, with eight Buy ratings, two Holds and one Sell; the consensus price target is $25.57, compared with the recent share price. Institutional investors own 87.86% of the stock.

Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) insider Elizabeth Rozek sold 10,545 shares of Sagimet Biosciences stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $7.76, for a total transaction of $81,829.20. Following the completion of the sale, the insider owned 224,414 shares of the company's stock, valued at $1,741,452.64. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock traded down $0.27 during mid-day trading on Tuesday, reaching $7.18. 129,525 shares of the company traded hands, compared to its average volume of 1,150,016. The firm's fifty day moving average is $7.10 and its two-hundred day moving average is $6.34. The company has a market capitalization of $233.96 million, a price-to-earnings ratio of -5.36 and a beta of 3.35. Sagimet Biosciences Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.27.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.06. As a group, equities research analysts predict that Sagimet Biosciences Inc. will post -1.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Sagimet Biosciences by 819.2% in the 4th quarter. Royal Bank of Canada now owns 4,927 shares of the company's stock worth $29,000 after purchasing an additional 4,391 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Sagimet Biosciences in the 4th quarter valued at $30,000. Virtu Financial LLC purchased a new stake in Sagimet Biosciences during the fourth quarter worth $62,000. Hamilton Lane Advisors LLC acquired a new stake in Sagimet Biosciences during the fourth quarter valued at $66,000. Finally, Bank of America Corp DE grew its position in Sagimet Biosciences by 81.8% during the second quarter. Bank of America Corp DE now owns 9,943 shares of the company's stock valued at $76,000 after buying an additional 4,473 shares during the period. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SGMT shares. Citizens Jmp cut their price objective on Sagimet Biosciences from $35.00 to $12.00 and set a "market outperform" rating on the stock in a report on Tuesday, May 19th. Canaccord Genuity Group raised their price target on shares of Sagimet Biosciences from $28.00 to $49.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Guggenheim decreased their price objective on shares of Sagimet Biosciences from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Oppenheimer reaffirmed an "outperform" rating on shares of Sagimet Biosciences in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sagimet Biosciences currently has an average rating of "Moderate Buy" and a consensus target price of $25.57.

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.

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