<div id="readability-page-1"><p>Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,670,000 shares, a drop of 26.8% from the June 30th total of 2,280,000 shares. Currently, 8.0% of the shares of the stock are short sold. Based on an average daily volume of 536,900 shares, the short-interest ratio is currently 3.1 days.</p><div><p><span></span><span>Get <strong>Sagimet Biosciences</strong> alerts:</span></p></div><h2>Sagimet Biosciences Stock Performance</h2><p>Shares of NASDAQ:SGMT traded up $0.02 during midday trading on Friday, hitting $3.42. 239,160 shares of the stock were exchanged, compared to its average volume of 542,058. The business's 50-day moving average price is $4.04 and its 200 day moving average price is $5.52. Sagimet Biosciences has a 12 month low of $2.13 and a 12 month high of $20.71. </p><p>Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.18. Equities research analysts anticipate that Sagimet Biosciences will post -1.76 earnings per share for the current year. </p><h2>Insider Buying and Selling</h2><p>In related news, Chairman George Kemble sold 14,062 shares of the firm's stock in a transaction on Friday, July 19th. The stock was sold at an average price of $3.10, for a total value of $43,592.20. Following the transaction, the chairman now owns 142,318 shares in the company, valued at $441,185.80. The sale was disclosed in a document filed with the Securities &amp; Exchange Commission, which can be accessed through the SEC website. In other Sagimet Biosciences news, insider Eduardo Bruno Martins sold 8,357 shares of Sagimet Biosciences stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $3.10, for a total value of $25,906.70. Following the transaction, the insider now owns 81,213 shares in the company, valued at $251,760.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman George Kemble sold 14,062 shares of Sagimet Biosciences stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $3.10, for a total value of $43,592.20. Following the completion of the transaction, the chairman now owns 142,318 shares in the company, valued at approximately $441,185.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,958 shares of company stock worth $178,224. Company insiders own 17.60% of the company's stock. </p><h2>Hedge Funds Weigh In On Sagimet Biosciences</h2><p>A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC acquired a new position in shares of Sagimet Biosciences in the second quarter worth approximately $43,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Sagimet Biosciences in the first quarter worth approximately $113,000. Ikarian Capital LLC acquired a new position in shares of Sagimet Biosciences in the first quarter worth approximately $2,236,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Sagimet Biosciences in the first quarter worth approximately $91,000. Finally, American International Group Inc. lifted its stake in shares of Sagimet Biosciences by 312.0% in the first quarter. American International Group Inc. now owns 11,372 shares of the company's stock worth $62,000 after acquiring an additional 8,612 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds. </p><h2>Wall Street Analysts Forecast Growth</h2><p>A number of research analysts have issued reports on the company. The Goldman Sachs Group reiterated a &#34;neutral&#34; rating and issued a $6.00 target price (down previously from $23.00) on shares of Sagimet Biosciences in a research report on Friday, June 28th. JMP Securities reiterated a &#34;market outperform&#34; rating and issued a $48.00 target price on shares of Sagimet Biosciences in a research report on Friday, June 7th. Finally, HC Wainwright reiterated a &#34;buy&#34; rating and issued a $32.00 target price on shares of Sagimet Biosciences in a research report on Friday, June 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Sagimet Biosciences presently has a consensus rating of &#34;Moderate Buy&#34; and a consensus target price of $35.80.</p><p><b>Read Our Latest Research Report on SGMT</b></p><h2>Sagimet Biosciences Company Profile</h2> (Get Free Report)<p>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 metabolic pathways in the United States. The company's lead drug candidate is Denifanstat, a once-daily pill and selective FASN inhibitor for the treatment of metabolic dysfunction associated steatohepatitis.</p><h2>Featured Articles</h2><ul><li>Five stocks we like better than Sagimet Biosciences</li><li>3 Natural Gas Stocks That Offer Great Dividend Yields</li><li>Why Call Options Volume for These 2 Stocks Spiked Together</li><li>How to Invest in the FAANG Stocks</li><li>MarketBeat Week in Review – 7/22 - 7/26</li><li>3 Best Fintech Stocks for a Portfolio Boost</li><li>3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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SGMT

<p>Sagimet Biosciences Inc. (NASDAQ:SGMT) saw a 26.8% decline in short interest in July, with 1,670,000 shares sold short. The short-interest ratio is currently 3.1 days. The company's stock is currently trading at $3.42 with a 50-day moving average of $4.04. Insiders have sold 56,958 shares of company stock worth $178,224. Analysts have given the stock a "Moderate Buy" rating with a consensus target price of $35.80.</p>

Sagimet Biosciences Inc. (NASDAQ:SGMT) Short Interest Down 26.8% in July