Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives $26.00 Consensus Price Target from Brokerages

Sagimet Biosciences Inc. (NASDAQ:SGMT) has earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One research 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 1 year price target among analysts that have issued ratings on the stock in the last year is $26.00.

Several research analysts have issued reports on the stock. Citigroup restated an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, November 14th. Citizens Jmp raised their price objective on 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 report on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 target price on the stock. Wall Street Zen lowered Sagimet Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Thursday, January 22nd.

Sagimet Biosciences Trading Down 1.7%

Shares of NASDAQ SGMT opened at $5.06 on Wednesday. Sagimet Biosciences has a twelve month low of $1.73 and a twelve month high of $11.41. The firm has a 50-day moving average of $5.96 and a two-hundred day moving average of $7.02. The company has a market capitalization of $164.55 million, a price-to-earnings ratio of -2.84 and a beta of 3.39.

Sagimet Biosciences (NASDAQ:SGMT) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.01. As a group, research analysts predict that Sagimet Biosciences will post -1.6 earnings per share for the current year.

Insider Transactions at Sagimet Biosciences

In other news, CEO David Happel sold 12,101 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total transaction of $64,861.36. Following the sale, the chief executive officer owned 677,621 shares in the company, valued at $3,632,048.56. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman George Kemble sold 37,688 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $7.69, for a total transaction of $289,820.72. Following the completion of the sale, the chairman owned 81,005 shares of the company’s stock, valued at approximately $622,928.45. This trade represents a 31.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 51,101 shares of company stock valued at $361,714 over the last ninety days. Insiders own 14.70% of the company’s stock.

Institutional Trading of Sagimet Biosciences

Several large investors have recently added to or reduced their stakes in SGMT. Affinity Asset Advisors LLC lifted its holdings in shares of Sagimet Biosciences by 228.1% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,148,245 shares of the company’s stock valued at $6,798,000 after purchasing an additional 798,245 shares in the last quarter. Millennium Management LLC raised its position in Sagimet Biosciences by 6,484.7% during the third quarter. Millennium Management LLC now owns 776,377 shares of the company’s stock valued at $5,326,000 after buying an additional 788,537 shares during the period. Marshall Wace LLP purchased a new stake in Sagimet Biosciences in the 4th quarter worth about $4,620,000. Schonfeld Strategic Advisors LLC lifted its stake in Sagimet Biosciences by 462.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 523,774 shares of the company’s stock worth $3,593,000 after acquiring an additional 430,644 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in Sagimet Biosciences during the 4th quarter worth about $1,802,000. 87.86% of the stock is owned by institutional investors and hedge funds.

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.