Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives Average Rating of “Moderate Buy” from Analysts

Sagimet Biosciences Inc. (NASDAQ:SGMT) has been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $26.00.

Several equities research analysts have recently commented on the stock. Citizens Jmp lifted their price objective on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Friday, November 14th. Barclays began coverage on Sagimet Biosciences in a research report on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 target price on the stock. Guggenheim began coverage on Sagimet Biosciences in a research report on Tuesday, February 3rd. They set a “buy” rating and a $27.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of Sagimet Biosciences in a research note on Wednesday. Finally, Citigroup reissued an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, November 14th.

Sagimet Biosciences Stock Down 7.0%

Shares of Sagimet Biosciences stock opened at $5.34 on Friday. The company has a 50 day moving average price of $5.74 and a 200 day moving average price of $6.64. The firm has a market capitalization of $173.66 million, a P/E ratio of -3.40 and a beta of 3.35. Sagimet Biosciences has a 52 week low of $1.73 and a 52 week high of $11.41.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Wednesday, March 11th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.14. As a group, research analysts anticipate that Sagimet Biosciences will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Happel sold 12,101 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total value of $64,861.36. Following the sale, the chief executive officer owned 677,621 shares in the company, valued at $3,632,048.56. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Sagimet Biosciences

Large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Sagimet Biosciences in the fourth quarter worth $62,000. XTX Topco Ltd lifted its position in Sagimet Biosciences by 53.6% during the fourth quarter. XTX Topco Ltd now owns 91,737 shares of the company’s stock valued at $543,000 after purchasing an additional 32,003 shares during the period. 683 Capital Management LLC purchased a new stake in Sagimet Biosciences in the fourth quarter valued at $748,000. Royal Bank of Canada grew its position in Sagimet Biosciences by 819.2% during the 4th quarter. Royal Bank of Canada now owns 4,927 shares of the company’s stock worth $29,000 after purchasing an additional 4,391 shares during the period. Finally, Squarepoint Ops LLC grew its position in Sagimet Biosciences by 141.6% during the 4th quarter. Squarepoint Ops LLC now owns 84,733 shares of the company’s stock worth $502,000 after purchasing an additional 49,668 shares during the period. 87.86% of the stock is owned by hedge funds and other institutional investors.

About Sagimet Biosciences

Sagimet Biosciences (NASDAQ: SGMT) is a clinical-stage biotechnology company focused on developing novel therapies for fibrotic diseases. The company’s lead program, CM-101, is a first-in-class fusion protein designed to neutralize the chemokine CCL24 and interrupt key drivers of tissue fibrosis. Preclinical data have demonstrated CM-101’s potential to block fibrotic signaling pathways in multiple organ systems, and the company has advanced the program into early-stage clinical evaluation for indications such as nonalcoholic steatohepatitis and systemic sclerosis.

In addition to CM-101, Sagimet maintains a pipeline of preclinical candidates targeting inflammation-driven fibrotic processes.