In yesterday’s Wall Street session, Sagimet Biosciences Inc (NASDAQ:SGMT) shares traded at $3.40, up 8.97% from the previous session.
SGMT stock price is now 11.41% away from the 50-day moving average and -31.35% away from the 200-day moving average. The market capitalization of the company currently stands at $109.48M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $23 to $6, Goldman Downgraded its rating from Buy to Neutral for Sagimet Biosciences Inc (NASDAQ: SGMT). On May 02, 2024, H.C. Wainwright recently initiated its ‘Buy’ rating on the stock quoting a target price of $32, while ‘Leerink Partners’ rates the stock as ‘Outperform’
In other news, Kemble George, Executive Chairman sold 23,625 shares of the company’s stock on Jul 23 ’24. The stock was sold for $74,830 at an average price of $3.17. Upon completion of the transaction, the Executive Chairman now directly owns 118,693 shares in the company, valued at $0.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 19 ’24, Chief Medical Officer Martins Eduardo Bruno sold 8,357 shares of the business’s stock. A total of $25,910 was realized by selling the stock at an average price of $3.10. This leaves the insider owning 81,213 shares of the company worth $0.28 million. A total of 34.36% of the company’s stock is owned by insiders.
During the past 12 months, Sagimet Biosciences Inc has had a low of $2.13 and a high of $20.71. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 29.11, and a quick ratio of 29.11. The fifty day moving average price for SGMT is $3.0545 and a two-hundred day moving average price translates $4.941675 for the stock.
The latest earnings results from Sagimet Biosciences Inc (NASDAQ: SGMT) was released for 2024-06-30. The net profit margin was -1462.55% and return on equity was -29.32% for SGMT.
