Sagimet Biosciences Inc. (NASDAQ:SGMT) General Counsel Sells $98,421.40 in Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) General Counsel Elizabeth Rozek sold 10,780 shares of Sagimet Biosciences stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $9.13, for a total transaction of $98,421.40. Following the completion of the sale, the general counsel owned 183,726 shares of the company's stock, valued at $1,677,418.38. This trade represents a 5.54% 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.

Sagimet Biosciences Price Performance

NASDAQ SGMT traded up $0.04 on Friday, hitting $10.24. The company had a trading volume of 1,169,042 shares, compared to its average volume of 802,326. The company's fifty day moving average price is $7.07 and its 200-day moving average price is $4.80. Sagimet Biosciences Inc. has a 12-month low of $1.73 and a 12-month high of $11.41.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.23. As a group, research analysts predict that Sagimet Biosciences Inc. will post -1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Sagimet Biosciences

A number of hedge funds have recently modified their holdings of SGMT. American Century Companies Inc. purchased a new stake in shares of Sagimet Biosciences in the fourth quarter valued at about $90,000. Geode Capital Management LLC grew its holdings in shares of Sagimet Biosciences by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 255,236 shares of the company's stock valued at $1,149,000 after purchasing an additional 2,938 shares during the period. Wells Fargo & Company MN purchased a new stake in shares of Sagimet Biosciences in the fourth quarter valued at about $31,000. Summit Financial Wealth Advisors LLC purchased a new stake in shares of Sagimet Biosciences in the fourth quarter valued at about $61,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Sagimet Biosciences in the fourth quarter valued at about $114,000. Hedge funds and other institutional investors own 87.86% of the company's stock.

Wall Street Analysts Forecast Growth

SGMT has been the subject of a number of recent analyst reports. Jones Trading lifted their target price on shares of Sagimet Biosciences from $15.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Canaccord Genuity Group assumed coverage on shares of Sagimet Biosciences in a report on Thursday. They set a "buy" rating and a $28.00 target price for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $26.83.

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.