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

Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel acquired 12,100 shares of Sagimet Biosciences stock in a transaction on Tuesday, March 26th. The shares were purchased at an average price of $5.27 per share, for a total transaction of $63,767.00. Following the completion of 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 filing with the SEC, which is available at the SEC website.

Sagimet Biosciences Stock Performance

Shares of SGMT stock traded down $0.31 during trading hours on Thursday, hitting $5.42. 1,150,533 shares of the company were exchanged, compared to its average volume of 1,761,829. Sagimet Biosciences Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $20.71. The company has a 50 day simple moving average of $7.51 and a two-hundred day simple moving average of $6.44.

Institutional Trading of Sagimet Biosciences

Several large investors have recently modified their holdings of the stock. UBS Group AG acquired a new stake in Sagimet Biosciences in the 3rd quarter valued at $26,000. Barclays PLC acquired a new stake in Sagimet Biosciences in the 4th quarter valued at $41,000. Rhumbline Advisers acquired a new stake in Sagimet Biosciences in the 3rd quarter valued at $48,000. New York State Common Retirement Fund bought a new position in Sagimet Biosciences during the 3rd quarter valued at $56,000. Finally, Virtu Financial LLC bought a new position in Sagimet Biosciences during the 4th quarter valued at $67,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JMP Securities dropped 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 report on Wednesday, February 7th. SVB Leerink started coverage on shares of Sagimet Biosciences in a research report on Monday. They set an “outperform” rating and a $26.00 target price 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 report on Tuesday. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Sagimet Biosciences in a research report on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target 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.