Insider Selling: Sagimet Biosciences (NASDAQ:SGMT) Director Sells 18,844 Shares

Key Points

• Director George Kemble sold 18,844 Sagimet Biosciences shares at an average price of $7.46, totaling $140,576.24. The sale reduced his ownership by 23.26%, leaving him with 62,161 shares.
• SGMT traded down to $7.20, with a market capitalization of approximately $234.6 million. The company recently reported a quarterly loss of $0.33 per share, beating analyst expectations of a $0.39 loss.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $25.57, although targets range widely. Institutional investors own 87.86% of the company’s outstanding shares.

Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) Director George Kemble sold 18,844 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $7.46, for a total transaction of $140,576.24. Following the transaction, the director owned 62,161 shares in the company, valued at approximately $463,721.06. This trade represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Sagimet Biosciences Stock Performance

SGMT stock traded down $0.25 during trading on Tuesday, hitting $7.20. The stock had a trading volume of 119,898 shares, compared to its average volume of 1,149,948. The stock has a market cap of $234.61 million, a price-to-earnings ratio of -5.37 and a beta of 3.35. The company's 50 day moving average price is $7.10 and its two-hundred day moving average price is $6.34. Sagimet Biosciences Inc. has a 1-year low of $4.50 and a 1-year high of $10.27.

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

Institutional Investors Weigh In On Sagimet Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. Landscape Capital Management L.L.C. bought a new stake in shares of Sagimet Biosciences during the third quarter valued at approximately $156,000. LPL Financial LLC increased its holdings in shares of Sagimet Biosciences by 31.3% during the fourth quarter. LPL Financial LLC now owns 20,574 shares of the company's stock worth $122,000 after buying an additional 4,899 shares in the last quarter. NewEdge Advisors LLC bought a new position in Sagimet Biosciences in the first quarter valued at approximately $105,000. Jefferies Financial Group Inc. acquired a new position in Sagimet Biosciences during the third quarter valued at approximately $95,000. Finally, Virtu Financial LLC acquired a new stake in shares of Sagimet Biosciences in the fourth quarter valued at approximately $62,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citizens Jmp lowered their price objective on Sagimet Biosciences from $35.00 to $12.00 and set a "market outperform" rating for the company in a research note on Tuesday, May 19th. Canaccord Genuity Group lifted their price target on shares of Sagimet Biosciences from $28.00 to $49.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Oppenheimer reaffirmed an "outperform" rating on shares of Sagimet Biosciences in a report on Friday, May 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Finally, Guggenheim decreased their target price on shares of Sagimet Biosciences from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sagimet Biosciences presently has a consensus rating of "Moderate Buy" and an average 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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