Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives $26.25 Consensus Price Target from Brokerages

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com 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 target among brokers that have covered the stock in the last year is $26.25.

A number of research analysts have recently issued reports on SGMT shares. Barclays started coverage on shares of Sagimet Biosciences in a research report on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 price objective on the stock. Guggenheim initiated coverage on shares of Sagimet Biosciences in a research report on Tuesday, February 3rd. They set a “buy” rating and a $27.00 target price for the company. Wall Street Zen upgraded shares of Sagimet Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Thursday, January 22nd. Finally, Rodman & Renshaw began coverage on Sagimet Biosciences in a research report on Thursday, March 26th. They set a “buy” rating and a $28.00 price target on the stock.

Sagimet Biosciences Stock Performance

Sagimet Biosciences stock opened at $5.32 on Thursday. The firm has a market capitalization of $173.33 million, a price-to-earnings ratio of -3.39 and a beta of 3.17. Sagimet Biosciences has a 12-month low of $1.73 and a 12-month high of $11.41. The firm has a 50 day moving average of $5.41 and a 200 day moving average of $6.39.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.14. On average, analysts predict that Sagimet Biosciences will post -1.6 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Sagimet Biosciences

Several institutional investors have recently added to or reduced their stakes in SGMT. AlphaQuest LLC acquired a new position in shares of Sagimet Biosciences during the third quarter valued at about $804,000. American Century Companies Inc. boosted its stake in Sagimet Biosciences by 8.9% in the 2nd quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock worth $322,000 after purchasing an additional 3,454 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Sagimet Biosciences in the 4th quarter worth approximately $316,000. HighTower Advisors LLC grew its position in Sagimet Biosciences by 10.1% during the 4th quarter. HighTower Advisors LLC now owns 37,189 shares of the company’s stock worth $220,000 after purchasing an additional 3,408 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Sagimet Biosciences by 137.0% during the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock worth $195,000 after purchasing an additional 14,813 shares during 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.