Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) insider Eduardo Bruno Martins sold 8,277 shares of the company's 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 $75,569.01. Following the sale, the insider owned 106,936 shares in the company, valued at $976,325.68. The trade was a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Sagimet Biosciences Trading Up 0.4%
Sagimet Biosciences stock traded up $0.04 during midday trading on Friday, reaching $10.24. 1,169,042 shares of the company were exchanged, compared to its average volume of 802,326. The firm's 50-day simple moving average is $7.07 and its 200-day simple moving average is $4.80. Sagimet Biosciences Inc. has a 1 year low of $1.73 and a 1 year high of $11.41.
Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.23. Equities research analysts predict that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on SGMT. Jones Trading upped 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 began coverage on shares of Sagimet Biosciences in a research report on Thursday. They set a "buy" rating and a $28.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $26.83.
Read Our Latest Research Report on Sagimet Biosciences
Institutional Trading of Sagimet Biosciences
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN purchased a new stake in shares of Sagimet Biosciences during the 4th quarter worth about $31,000. Persistent Asset Partners Ltd acquired a new position in Sagimet Biosciences during the 1st quarter worth approximately $35,000. XTX Topco Ltd acquired a new position in shares of Sagimet Biosciences in the 1st quarter valued at approximately $35,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Sagimet Biosciences in the 1st quarter valued at approximately $49,000. Finally, Summit Financial Wealth Advisors LLC acquired a new position in shares of Sagimet Biosciences in the 4th quarter valued at approximately $61,000. Hedge funds and other institutional investors own 87.86% of the company's stock.
Sagimet Biosciences Company Profile
(
Get Free Report)
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.
See Also
Before you consider Sagimet Biosciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sagimet Biosciences wasn't on the list.
While Sagimet Biosciences currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access