Key Points
- Chairman George Kemble sold 37,688 shares on Nov. 20 at an average price of $7.69 for $289,820.72, cutting his stake by 31.75% to 81,005 shares (about $622,928).
- Shares fell 8.3% to $6.67 on heavy volume (1.51M vs. avg. 576k); the company has a market cap of ~$216.9M, a negative P/E, a high beta (3.26), and a 12‑month range of $1.73–$11.41.
- Analyst sentiment is mixed but tilted positive with a MarketBeat consensus of "Moderate Buy" and a $29.50 target (seven Buys, one Hold, one Sell), alongside recent divergent rating changes and price targets from firms like Wedbush and Citizens Jmp.
Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) Chairman George Kemble sold 37,688 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $7.69, for a total transaction of $289,820.72. Following the completion of the sale, the chairman owned 81,005 shares in the company, valued at approximately $622,928.45. This trade represents a 31.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Sagimet Biosciences Trading Down 8.3%
Shares of SGMT stock traded down $0.60 on Friday, hitting $6.67. The stock had a trading volume of 1,506,984 shares, compared to its average volume of 575,867. The company has a fifty day moving average price of $7.54 and a two-hundred day moving average price of $7.21. The firm has a market cap of $216.91 million, a P/E ratio of -3.75 and a beta of 3.26. Sagimet Biosciences Inc. has a twelve month low of $1.73 and a twelve month high of $11.41.
Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.01. On average, analysts expect that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on SGMT. Wedbush initiated coverage on shares of Sagimet Biosciences in a report on Monday, August 11th. They set an "outperform" rating and a $28.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Sagimet Biosciences in a report on Wednesday, October 8th. Citizens Jmp increased their price objective on Sagimet Biosciences from $33.00 to $35.00 and gave the stock a "market outperform" rating in a report on Friday, November 14th. Wall Street Zen downgraded Sagimet Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Zacks Research cut shares of Sagimet Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 12th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Sagimet Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $29.50.
Read Our Latest Research Report on SGMT
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of SGMT. XTX Topco Ltd bought a new position in shares of Sagimet Biosciences during the first quarter worth approximately $35,000. Charles Schwab Investment Management Inc. bought a new stake in Sagimet Biosciences in the 1st quarter valued at $49,000. Persistent Asset Partners Ltd acquired a new position in Sagimet Biosciences in the 1st quarter valued at $35,000. American Century Companies Inc. increased its position in Sagimet Biosciences by 93.2% during the 1st quarter. American Century Companies Inc. now owns 38,831 shares of the company's stock worth $127,000 after buying an additional 18,728 shares during the period. Finally, Jasper Ridge Partners L.P. acquired a new stake in shares of Sagimet Biosciences during the first quarter worth $62,000. Institutional investors and hedge funds 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.
Further Reading
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