Sagimet Biosciences (NASDAQ:SGMT) CEO David Happel Sells 64,051 Shares

Key Points

• CEO David Happel sold 64,051 Sagimet Biosciences shares at an average price of $7.76, generating approximately $497,036. The sale covered tax-withholding obligations tied to vested equity awards, reducing his stake by 7.95% to 741,570 shares.
• SGMT shares fell $0.27 to $7.18 in the reported trading session. The company has a market capitalization of about $233.8 million and reported quarterly EPS of $(0.33), better than analysts’ expectation of $(0.39).
• Analyst sentiment remains broadly positive, with eight Buy, two Hold, and one Sell rating and a consensus price target of $25.57. Institutional investors own 87.86% of the company, while Sagimet continues developing therapies for fibrotic diseases, led by its CM-101 program.

Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) CEO David Happel sold 64,051 shares of Sagimet Biosciences stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $7.76, for a total value of $497,035.76. Following the completion of the transaction, the chief executive officer owned 741,570 shares in the company, valued at approximately $5,754,583.20. This represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sagimet Biosciences Stock Performance

SGMT stock traded down $0.27 during trading on Tuesday, hitting $7.18. 111,833 shares of the company traded hands, compared to its average volume of 1,149,912. The firm has a market capitalization of $233.83 million, a PE ratio of -5.36 and a beta of 3.35. Sagimet Biosciences Inc. has a 1 year low of $4.50 and a 1 year high of $10.27. The company has a 50-day moving average of $7.10 and a 200-day moving average of $6.34.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.06. Sell-side analysts expect that Sagimet Biosciences Inc. will post -1.15 EPS for the current year.

Institutional Trading of Sagimet Biosciences

Large investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC raised its holdings in Sagimet Biosciences by 228.1% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,148,245 shares of the company's stock worth $6,798,000 after purchasing an additional 798,245 shares in the last quarter. Millennium Management LLC increased its position in shares of Sagimet Biosciences by 6,484.7% during the third quarter. Millennium Management LLC now owns 776,377 shares of the company's stock valued at $5,326,000 after buying an additional 788,537 shares during the period. Marshall Wace LLP bought a new position in Sagimet Biosciences in the fourth quarter worth about $4,620,000. Schonfeld Strategic Advisors LLC raised its stake in Sagimet Biosciences by 462.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 523,774 shares of the company's stock worth $3,593,000 after buying an additional 430,644 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in Sagimet Biosciences in the fourth quarter worth about $1,802,000. Institutional investors own 87.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Guggenheim dropped their price target on shares of Sagimet Biosciences from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Canaccord Genuity Group boosted their price objective 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Citizens Jmp dropped their target price on shares of Sagimet Biosciences from $35.00 to $12.00 and set a "market outperform" rating for the company in a report on Tuesday, May 19th. Finally, Oppenheimer reissued an "outperform" rating on shares of Sagimet Biosciences in a research note on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company 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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