Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have received an average recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $25.5714.

Several research firms have weighed in on SGMT. Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Friday, July 17th. Citizens Jmp cut their price objective on shares of Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 19th. Canaccord Genuity Group raised their target price on Sagimet Biosciences from $28.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Guggenheim lowered their target price on shares of Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, May 1st.

Sagimet Biosciences Stock Performance

Shares of SGMT opened at $8.64 on Thursday. The company has a market cap of $281.53 million, a price-to-earnings ratio of -6.45 and a beta of 3.37. The stock has a fifty day moving average price of $7.18 and a two-hundred day moving average price of $6.42. Sagimet Biosciences has a 52-week low of $4.50 and a 52-week high of $10.06.

Sagimet Biosciences (NASDAQ:SGMT) last announced its earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.06. As a group, research analysts predict that Sagimet Biosciences will post -1.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Sagimet Biosciences news, CEO David Happel sold 64,051 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $7.76, for a total value of $497,035.76. Following the completion of the transaction, the chief executive officer directly owned 741,570 shares of the company’s stock, valued at approximately $5,754,583.20. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Elizabeth Rozek sold 10,545 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $7.76, for a total value of $81,829.20. Following the completion of the sale, the insider owned 224,414 shares of the company’s stock, valued at $1,741,452.64. This trade represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 93,440 shares of company stock valued at $719,441. 11.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sagimet Biosciences

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of Sagimet Biosciences by 819.2% in the fourth quarter. Royal Bank of Canada now owns 4,927 shares of the company’s stock valued at $29,000 after purchasing an additional 4,391 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Sagimet Biosciences during the fourth quarter worth about $30,000. Bank of America Corp DE grew its holdings in shares of Sagimet Biosciences by 81.8% during the second quarter. Bank of America Corp DE now owns 9,943 shares of the company’s stock worth $76,000 after buying an additional 4,473 shares in the last quarter. Virtu Financial LLC acquired a new stake in Sagimet Biosciences in the 4th quarter valued at approximately $62,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Sagimet Biosciences in the 3rd quarter valued at approximately $95,000. Institutional investors own 87.86% of the company’s stock.

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.