Sagimet Biosciences Inc’s filing revealed that its President & CEO Happel David acquired Company’s shares for reported $63731.0 on Mar 26 ’24. In the deal valued at $5.27 per share,12,100 shares were bought. As a result of this transaction, Happel David now holds 639,200 shares worth roughly $3.39 million.
Then, Happel David bought 1,600 shares, generating $6,560 in total proceeds. Upon buying the shares at $4.10, the President & CEO now owns 627,100 shares.
Before that, Happel David bought 590 shares. Sagimet Biosciences Inc shares valued at $1,386 were divested by the President & CEO at a price of $2.35 per share. As a result of the transaction, Happel David now holds 590 shares, worth roughly $3132.8999999999996.
Leerink Partners initiated its Sagimet Biosciences Inc [SGMT] rating to an Outperform in a research note published on March 25, 2024; the price target was $26. A number of analysts have revised their coverage, including TD Cowen’s analysts, who began to cover the stock in early August with a ‘”an Outperform”‘ rating. Piper Sandler began covering SGMT with “an Overweight” recommendation on August 08, 2023. JMP Securities started covering the stock on August 08, 2023. It rated SGMT as “a Mkt outperform”.
Price Performance Review of SGMT
On Tuesday, Sagimet Biosciences Inc [NASDAQ:SGMT] saw its stock fall -1.30% to $5.31. Over the last five days, the stock has gained 1.34%. Sagimet Biosciences Inc shares have fallen nearly -2.03% since the year began. A total of 0.56 million shares were traded, compared to the trading of 0.75 million shares in the previous session.
Levels Of Support And Resistance For SGMT Stock
The 24-hour chart illustrates a support level at 5.04, which if violated will result in even more drops to 4.78. On the upside, there is a resistance level at 5.55. A further resistance level may holdings at 5.80. The Relative Strength Index (RSI) on the 14-day chart is 46.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 42.37%. Stochastics %K at 63.40% indicates the stock is a holding.
How much short interest is there in Sagimet Biosciences Inc?
A steep rise in short interest was recorded in Sagimet Biosciences Inc stocks on Mar 28, 2024, growing by 0.73 million shares to a total of 2.35 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 1.62 million shares. There was a rise of 31.06%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.48% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.06.
The most recent change occurred on August 08, 2023 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $33 price target.
