Sagimet Biosciences Inc. (SGMT) – What Are Analysts Saying About This Stock?

Sagimet Biosciences Inc. (NASDAQ:SGMT) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $26.63.

Several brokerages have recently weighed in on SGMT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Thursday, October 15th. Citigroup restated a “market outperform” rating on shares of Sagimet Biosciences in a report on Thursday, October 1st. Barclays upgraded shares of Sagimet Biosciences from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $18.00 in a report on Wednesday, September 9th. Citizens Jmp dropped their price target on shares of Sagimet Biosciences from $29.00 to $27.00 and set a “market outperform” rating for the company in a research report on Thursday, October 1st. Finally, Oppenheimer increased their price target on shares of Sagimet Biosciences from $33.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, October 1st.

Sagimet Biosciences Trading Down 0.2%

Sagimet Biosciences stock opened at $9.56 on Tuesday. The firm has a market capitalization of $594.25 million, a P/E ratio of -7.47 and a beta of 3.46. The stock has a fifty day moving average price of $9.94 and a 200 day moving average price of $7.39. Sagimet Biosciences has a 52 week low of $4.50 and a 52 week high of $11.45.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Tuesday, August 11th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). As a group, equities analysts predict that Sagimet Biosciences will post -1.14 EPS for the current year.

Insider Activity

In other news, Director George Kemble sold 20,206 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $9.95, for a total transaction of $201,049.70. Following the completion of the sale, the director directly owned 62,161 shares in the company, valued at $618,501.95. This represents a 24.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 11.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGMT. Inspire Investing LLC acquired a new stake in Sagimet Biosciences during the third quarter worth about $617,000. T3 Companies LLC acquired a new position in shares of Sagimet Biosciences in the 3rd quarter valued at about $106,000. Baird Financial Group Inc. lifted its stake in shares of Sagimet Biosciences by 19.8% in the 2nd quarter. Baird Financial Group Inc. now owns 15,677 shares of the company’s stock valued at $121,000 after purchasing an additional 2,591 shares in the last quarter. Seven Fleet Capital Management LP purchased a new stake in shares of Sagimet Biosciences during the 2nd quarter worth about $3,119,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Sagimet Biosciences during the 2nd quarter worth about $315,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Sagimet Biosciences Company Profile

Sagimet Biosciences, Inc (NASDAQ:SGMT) is a clinical-stage biopharmaceutical company developing therapies that target fatty acid synthase (FASN), an enzyme involved in the production of fatty acids. The company is focused on using FASN inhibition to address metabolic, inflammatory and oncological diseases for which additional treatment options are needed.

Sagimet’s lead investigational product is denifanstat, an orally administered, selective FASN inhibitor formerly known as TVB-2640. The company has primarily advanced denifanstat as a potential treatment for metabolic dysfunction-associated steatohepatitis (MASH), a chronic liver disease associated with liver inflammation and fibrosis.