Sagimet Biosciences (NASDAQ:SGMT) Releases Earnings Results, Beats Estimates By $0.06 EPS

Sagimet Biosciences (NASDAQ:SGMT) announced its quarterly earnings data on Tuesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.06, FiscalAI reports.

Sagimet Biosciences Stock Down 3.2%

SGMT traded down $0.25 during trading on Tuesday, reaching $7.45. 218,762 shares of the company’s stock were exchanged, compared to its average volume of 1,187,672. Sagimet Biosciences has a fifty-two week low of $3.08 and a fifty-two week high of $11.41. The business has a 50 day moving average price of $5.90 and a 200 day moving average price of $6.28. The company has a market capitalization of $242.56 million, a P/E ratio of -4.75 and a beta of 3.60.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SGMT shares. Canaccord Genuity Group raised their price objective on shares of Sagimet Biosciences from $28.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Barclays started coverage on shares of Sagimet Biosciences in a research note on Tuesday, January 27th. They set an “equal weight” rating and a $8.00 price target on the stock. Guggenheim decreased their price target on shares of Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Oppenheimer reiterated an “outperform” rating on shares of Sagimet Biosciences in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Sagimet Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.63.

Institutional Investors Weigh In On Sagimet Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Sagimet Biosciences by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,203,231 shares of the company’s stock valued at $8,254,000 after purchasing an additional 49,375 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in shares of Sagimet Biosciences by 228.1% in the 4th 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. Marshall Wace LLP acquired a new stake in shares of Sagimet Biosciences in the 4th quarter valued at $4,620,000. Millennium Management LLC boosted its stake in shares of Sagimet Biosciences by 6,484.7% in the 3rd quarter. Millennium Management LLC now owns 776,377 shares of the company’s stock valued at $5,326,000 after purchasing an additional 788,537 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of Sagimet Biosciences by 462.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 523,774 shares of the company’s stock valued at $3,593,000 after purchasing an additional 430,644 shares in the last quarter. Institutional investors and hedge funds 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.