Sagimet Biosciences Inc. (NASDAQ:SGMT – Free Report) – Equities researchers at HC Wainwright raised their FY2026 earnings per share (EPS) estimates for shares of Sagimet Biosciences in a research report issued on Monday, October 5th. HC Wainwright analyst B. Folkes now expects that the company will post earnings of ($1.31) per share for the year, up from their prior forecast of ($1.48). HC Wainwright has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for Sagimet Biosciences’ current full-year earnings is ($1.14) per share. HC Wainwright also issued estimates for Sagimet Biosciences’ Q4 2026 earnings at ($0.27) EPS, FY2027 earnings at ($1.03) EPS and FY2028 earnings at ($0.64) EPS.
Sagimet Biosciences (NASDAQ:SGMT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01).
Read Our Latest Report on Sagimet Biosciences
Sagimet Biosciences Trading Up 0.5%
Shares of NASDAQ:SGMT opened at $8.92 on Wednesday. The stock’s 50-day moving average price is $9.95 and its 200-day moving average price is $7.89. Sagimet Biosciences has a 12-month low of $4.50 and a 12-month high of $11.45. The stock has a market capitalization of $554.47 million, a P/E ratio of -6.97 and a beta of 3.46.
Insider Buying and Selling at Sagimet Biosciences
In other news, insider Elizabeth Rozek sold 10,545 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 224,414 shares in the company, valued at $1,741,452.64. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Happel sold 64,051 shares of Sagimet Biosciences stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $7.76, for a total value of $497,035.76. Following the sale, the chief executive officer owned 741,570 shares in the company, valued at $5,754,583.20. This represents a 7.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 113,646 shares of company stock valued at $920,491. 11.50% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Sagimet Biosciences
A number of institutional investors have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP bought a new position in Sagimet Biosciences during the 2nd quarter valued at about $3,119,000. Renaissance Technologies LLC boosted its holdings in shares of Sagimet Biosciences by 82.6% during the 1st quarter. Renaissance Technologies LLC now owns 625,469 shares of the company’s stock valued at $3,268,000 after acquiring an additional 282,969 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Sagimet Biosciences in the second quarter worth approximately $1,551,000. Dimensional Fund Advisors LP raised its holdings in shares of Sagimet Biosciences by 99.4% during the first quarter. Dimensional Fund Advisors LP now owns 271,217 shares of the company’s stock valued at $1,415,000 after purchasing an additional 135,178 shares during the last quarter. Finally, AWM Investment Company Inc. purchased a new position in shares of Sagimet Biosciences during the second quarter valued at approximately $618,000. Institutional investors own 87.86% of the company’s stock.
Sagimet Biosciences Company Profile
Sagimet Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target fatty acid synthase (FASN), an enzyme involved in the production of fatty acids. The company’s research is aimed at treating diseases associated with abnormal lipid metabolism and excess fat production.
Sagimet’s lead investigational product is denifanstat, an oral, selective FASN inhibitor formerly known as TVB-2640. The company is evaluating denifanstat primarily for metabolic dysfunction-associated steatohepatitis (MASH), a chronic liver disease that can involve inflammation, fat accumulation and fibrosis.
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