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

Sagimet Biosciences Inc. (NASDAQ:SGMT) Director George Kemble sold 20,206 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $9.95, for a total transaction of $201,049.70. Following the completion of the sale, the director owned 62,161 shares of the company’s stock, valued at $618,501.95. The trade was a 24.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 Price Performance

NASDAQ:SGMT traded down $0.13 during midday trading on Wednesday, reaching $9.39. The stock had a trading volume of 1,096,136 shares, compared to its average volume of 1,143,046. The stock has a market capitalization of $305.93 million, a P/E 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 firm’s fifty day simple moving average is $7.39 and its 200-day simple moving average is $6.52.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Tuesday, August 11th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). On average, equities research analysts anticipate that Sagimet Biosciences Inc. will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sagimet Biosciences

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new stake in Sagimet Biosciences in the 2nd quarter valued at $1,551,000. Bank of America Corp DE boosted its position in shares of Sagimet Biosciences by 344.1% during the 1st quarter. Bank of America Corp DE now owns 43,858 shares of the company’s stock valued at $229,000 after acquiring an additional 33,982 shares in the last quarter. Renaissance Technologies LLC increased its stake in Sagimet Biosciences by 82.6% in the first quarter. Renaissance Technologies LLC now owns 625,469 shares of the company’s stock valued at $3,268,000 after acquiring an additional 282,969 shares during the period. Dimensional Fund Advisors LP increased its stake in Sagimet Biosciences by 99.4% in the first quarter. Dimensional Fund Advisors LP now owns 271,217 shares of the company’s stock valued at $1,415,000 after acquiring an additional 135,178 shares during the period. Finally, Virtu Financial LLC acquired a new position in Sagimet Biosciences in the fourth quarter worth about $62,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

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