Sagimet Biosciences Inc. (NASDAQ:SGMT – Get Free Report) insider Elizabeth Rozek sold 10,545 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $7.76, for a total value of $81,829.20. Following the sale, the insider owned 224,414 shares in the company, valued at approximately $1,741,452.64. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Sagimet Biosciences Trading Down 3.2%
NASDAQ:SGMT opened at $7.04 on Thursday. The stock has a market capitalization of $229.36 million, a PE ratio of -5.25 and a beta of 3.35. Sagimet Biosciences Inc. has a 1-year low of $4.50 and a 1-year high of $10.06. The firm has a fifty day simple moving average of $7.13 and a 200 day simple moving average of $6.37.
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, beating analysts’ consensus estimates of ($0.39) by $0.06. On average, equities analysts predict that Sagimet Biosciences Inc. will post -1.15 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Sagimet Biosciences
Analysts Set New Price Targets
Several brokerages recently issued reports on SGMT. Oppenheimer reiterated an “outperform” rating on shares of Sagimet Biosciences in a research note on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Canaccord Genuity Group raised their price objective on Sagimet Biosciences from $28.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Guggenheim reduced their target price on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Citizens Jmp decreased their target price on Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 19th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.57.
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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