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

Sagimet Biosciences Inc. (NASDAQ:SGMT) CEO David Happel bought 12,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $5.27 per share, for a total transaction of $63,767.00. Following the completion of the acquisition, the chief executive officer now directly owns 639,200 shares in the company, valued at $3,368,584. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $5.42 on Friday. The firm’s 50 day simple moving average is $7.49 and its 200-day simple moving average is $6.44. Sagimet Biosciences Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $20.71.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SGMT. UBS Group AG purchased a new position in Sagimet Biosciences during the third quarter valued at approximately $26,000. Rhumbline Advisers purchased a new position in Sagimet Biosciences during the third quarter valued at approximately $48,000. New York State Common Retirement Fund purchased a new position in Sagimet Biosciences during the third quarter valued at approximately $56,000. Barclays PLC purchased a new position in Sagimet Biosciences during the fourth quarter valued at approximately $41,000. Finally, Virtu Financial LLC purchased a new position in Sagimet Biosciences during the fourth quarter valued at approximately $67,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SGMT. Leerink Partnrs reiterated an “outperform” rating on shares of Sagimet Biosciences in a report on Monday. The Goldman Sachs Group dropped their target price on shares of Sagimet Biosciences from $37.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday. JMP Securities dropped their target price on shares of Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, SVB Leerink began coverage on shares of Sagimet Biosciences in a research report on Monday. They issued an “outperform” rating and a $26.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average 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.