Sagimet Biosciences (NASDAQ:SGMT) Director Sells 20,206 Shares of Stock

Key Points

• Director George Kemble sold 20,206 Sagimet Biosciences shares at an average price of $9.95, generating $201,049.70 and reducing his stake by 24.53% to 62,161 shares.
• SGMT shares fell 1.4% to $9.39, while the company reported a quarterly loss of $0.26 per share, slightly worse than the $0.25 consensus estimate.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $26.33 price target, although institutional investors already own 87.86% of the stock.

Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) Director George Kemble sold 20,206 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $9.95, for a total value of $201,049.70. Following the sale, the director owned 62,161 shares in the company, valued at approximately $618,501.95. The trade was a 24.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

George Kemble also recently made the following trade(s):

• On Monday, July 20th, George Kemble sold 18,844 shares of Sagimet Biosciences stock. The stock was sold at an average price of $7.46, for a total transaction of $140,576.24.

Sagimet Biosciences Stock Down 1.4%

Shares of SGMT stock traded down $0.13 during trading hours on Wednesday, reaching $9.39. 1,096,136 shares of the stock traded hands, compared to its average volume of 1,143,046. The firm has a market capitalization of $305.93 million, a PE ratio of -7.34 and a beta of 3.37. Sagimet Biosciences Inc. has a 1-year low of $4.50 and a 1-year high of $10.06. The business has a fifty day moving average price of $7.39 and a 200 day moving average price of $6.52.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Research analysts expect that Sagimet Biosciences Inc. will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sagimet Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC bought a new position in Sagimet Biosciences during the first quarter valued at about $105,000. Geode Capital Management LLC increased its holdings in shares of Sagimet Biosciences by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 265,324 shares of the company's stock valued at $2,023,000 after acquiring an additional 1,600 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Sagimet Biosciences by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 42,285 shares of the company's stock valued at $322,000 after acquiring an additional 3,454 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Sagimet Biosciences by 137.0% in the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company's stock valued at $195,000 after acquiring an additional 14,813 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Sagimet Biosciences in the 2nd quarter worth approximately $1,130,000. Institutional investors and hedge funds own 87.86% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on SGMT. Guggenheim decreased their price target on shares of Sagimet Biosciences from $27.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Canaccord Genuity Group lifted their target price on shares of Sagimet Biosciences from $49.00 to $56.00 and gave the company a "buy" rating in a research note on Wednesday. Citizens Jmp dropped their price target on shares of Sagimet Biosciences from $35.00 to $12.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 19th. Weiss Ratings reissued a "sell (d-)" rating on shares of Sagimet Biosciences in a research report on Friday, July 17th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Sagimet Biosciences in a research note on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.33.

Sagimet Biosciences Company Profile

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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