Key Points
- CEO David Happel sold 12,101 shares on Feb. 10 at an average price of $5.36, yielding $64,861.36 and trimming his stake by 1.75% to 677,621 shares.
- SGMT opened at $5.15 with a 50-day/200-day moving average of $5.99/$7.05, a 52-week range of $1.73–$11.41, a market cap of about $167.5M and a negative P/E of -2.89.
- Institutional investors own roughly 87.9% of the stock after sizable buys by Renaissance, Dimensional and Goldman Sachs, and analysts hold a consensus "Moderate Buy" with a $26.00 price target (7 Buy, 2 Hold, 1 Sell).
Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) CEO David Happel sold 12,101 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total value of $64,861.36. Following the transaction, the chief executive officer owned 677,621 shares of the company's stock, valued at $3,632,048.56. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Sagimet Biosciences Stock Performance
Shares of SGMT stock opened at $5.15 on Friday. The stock has a 50 day moving average price of $5.99 and a 200 day moving average price of $7.05. Sagimet Biosciences Inc. has a 52-week low of $1.73 and a 52-week high of $11.41. The firm has a market capitalization of $167.48 million, a P/E ratio of -2.89 and a beta of 3.39.
Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last released its earnings results on Thursday, November 13th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.01. As a group, sell-side analysts forecast that Sagimet Biosciences Inc. will post -1.6 EPS for the current year.
Hedge Funds Weigh In On Sagimet Biosciences
Several institutional investors have recently bought and sold shares of SGMT. Renaissance Technologies LLC lifted its holdings in Sagimet Biosciences by 112.2% during the fourth quarter. Renaissance Technologies LLC now owns 342,500 shares of the company's stock worth $2,028,000 after buying an additional 181,100 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Sagimet Biosciences by 437.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 136,039 shares of the company's stock worth $805,000 after acquiring an additional 110,705 shares in the last quarter. LPL Financial LLC raised its position in shares of Sagimet Biosciences by 31.3% in the 4th quarter. LPL Financial LLC now owns 20,574 shares of the company's stock worth $122,000 after acquiring an additional 4,899 shares in the last quarter. Dumac Inc. purchased a new stake in shares of Sagimet Biosciences during the 4th quarter worth $421,000. Finally, Goldman Sachs Group Inc. boosted its position in Sagimet Biosciences by 729.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 125,946 shares of the company's stock valued at $746,000 after purchasing an additional 110,754 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on SGMT shares. Citizens Jmp lifted their price objective on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the company a "market outperform" rating in a report on Friday, November 14th. Zacks Research downgraded shares of Sagimet Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 12th. Wall Street Zen cut Sagimet Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, November 22nd. HC Wainwright restated a "buy" rating and set a $29.00 price objective on shares of Sagimet Biosciences in a report on Tuesday, February 3rd. Finally, Guggenheim assumed coverage on Sagimet Biosciences in a report on Tuesday, February 3rd. They issued a "buy" rating and a $27.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.
Check Out Our Latest Research Report on SGMT
Sagimet Biosciences Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
