Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel Acquires 12,100 Shares

Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel acquired 12,100 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $5.27 per share, with a total value of $63,767.00. Following the purchase, the chief executive officer now directly owns 639,200 shares of the company’s stock, valued at $3,368,584. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sagimet Biosciences Trading Down 5.4 %

Sagimet Biosciences stock traded down $0.31 during mid-day trading on Thursday, reaching $5.42. The company had a trading volume of 1,150,533 shares, compared to its average volume of 1,761,829. Sagimet Biosciences Inc. has a 1 year low of $2.13 and a 1 year high of $20.71. The stock’s 50-day simple moving average is $7.51 and its 200-day simple moving average is $6.44.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in shares of Sagimet Biosciences during the 4th quarter worth approximately $67,000. Blue Owl Capital Holdings LP purchased a new position in shares of Sagimet Biosciences during the 4th quarter worth approximately $1,926,000. Barclays PLC purchased a new position in shares of Sagimet Biosciences during the 4th quarter worth approximately $41,000. Bridgeway Capital Management LLC purchased a new position in shares of Sagimet Biosciences during the 4th quarter worth approximately $244,000. Finally, Northern Trust Corp increased its stake in shares of Sagimet Biosciences by 11.7% during the 4th quarter. Northern Trust Corp now owns 46,818 shares of the company’s stock worth $254,000 after purchasing an additional 4,892 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. SVB Leerink started coverage on shares of Sagimet Biosciences in a research note on Monday. They issued an “outperform” rating and a $26.00 price objective for the company. The Goldman Sachs Group decreased their target price on shares of Sagimet Biosciences from $37.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday. JMP Securities decreased their target price on shares of Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Sagimet Biosciences in a research note on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $41.50.

Sagimet Biosciences Company Profile

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 lipid metabolism pathways. Its lead drug candidate is Denifanstat, a FASN inhibitor for the treatment of nonalcoholic steatohepatitis and acne.