Elizabeth Rozek Sells 10,914 Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) Stock

Sagimet Biosciences Inc. (NASDAQ:SGMT) General Counsel Elizabeth Rozek sold 10,914 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $3.10, for a total value of $33,833.40. Following the completion of the transaction, the general counsel now owns 160,506 shares in the company, valued at approximately $497,568.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sagimet Biosciences Stock Performance

Shares of SGMT opened at $3.40 on Friday. Sagimet Biosciences Inc. has a 1 year low of $2.13 and a 1 year high of $20.71. The stock’s 50-day moving average price is $4.07 and its two-hundred day moving average price is $5.53.

Sagimet Biosciences (NASDAQ:SGMT) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.18. On average, research analysts forecast that Sagimet Biosciences Inc. will post -1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sagimet Biosciences

A number of hedge funds have recently modified their holdings of SGMT. Vanguard Group Inc. raised its position in shares of Sagimet Biosciences by 364.9% during the first quarter. Vanguard Group Inc. now owns 1,139,407 shares of the company’s stock worth $6,176,000 after purchasing an additional 894,319 shares during the period. Ikarian Capital LLC acquired a new stake in shares of Sagimet Biosciences during the first quarter worth about $2,236,000. Victory Capital Management Inc. raised its position in shares of Sagimet Biosciences by 215.0% during the fourth quarter. Victory Capital Management Inc. now owns 56,570 shares of the company’s stock worth $307,000 after purchasing an additional 38,610 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Sagimet Biosciences during the first quarter worth about $188,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Sagimet Biosciences during the first quarter worth about $113,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Upgrades and Downgrades

SGMT has been the topic of several recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $48.00 price target on shares of Sagimet Biosciences in a report on Friday, June 7th. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Sagimet Biosciences in a report on Friday, June 14th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $6.00 target price (down previously from $23.00) on shares of Sagimet Biosciences in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Sagimet Biosciences has an average rating of “Moderate Buy” and a consensus price target of $35.80.

About Sagimet Biosciences

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.