The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sagimet Biosciences Inc shares valued at $74,830 were sold by Kemble George on Jul 23 ’24. At $3.17 per share, Kemble George sold 23,625 shares. The insider’s holdings dropped to 118,693 shares worth approximately $0.65 million following the completion of this transaction.
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Also, Martins Eduardo Bruno sold 8,357 shares, netting a total of over 25,910 in proceeds. Following the sale of shares at $3.10 each, the insider now holds 81,213 shares.
Before that, Rozek Elizabeth had sold 10,914 shares from its account. In a trade valued at $33,830, the General Counsel and CCO traded Sagimet Biosciences Inc shares for $3.10 each. Upon closing the transaction, the insider’s holdings decreased to 10,914 shares, worth approximately $0.88 million.
As published in a research note from Goldman on June 28, 2024, Sagimet Biosciences Inc [SGMT] has been rated down from a Buy to a Neutral and the price target has been revised to $6 from $23. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in early May. As of March 25, 2024, Leerink Partners has initiated its “an Outperform” rating for SGMT. Earlier on August 08, 2023, TD Cowen initiated its rating. Their recommendation was “an Outperform” for SGMT stock.
Analyzing SGMT Stock Performance
During the last five days, there has been a surge of approximately 31.25%. Over the course of the year, Sagimet Biosciences Inc shares have jumped approximately 0.74%. Shares of the company reached a 52-week high of $20.71 on 01/22/24 and a 52-week low of $2.39 on 08/14/24. A 50-day SMA is recorded $3.30, while a 200-day SMA reached $4.88. Nevertheless, trading volume fell to 1.52 million shares from 1.22 million shares the previous day.
Support And Resistance Levels for Sagimet Biosciences Inc (SGMT)
According to the 24-hour chart, there is a support level at 5.09, which, if violated, would cause prices to drop to 4.72. In the upper region, resistance lies at 5.86. The next price resistance is at 6.26. RSI (Relative Strength Index) is 77.69 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.20, which suggests the price will increase in the coming days. Percent R is at 13.31%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
