Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $26.00.

SGMT has been the topic of several research analyst reports. Barclays assumed 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. Zacks Research lowered shares of Sagimet Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Citizens Jmp lifted their price objective on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday, November 14th. Wall Street Zen lowered shares of Sagimet Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Citigroup restated an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, November 14th.

Insider Transactions at Sagimet Biosciences

In other Sagimet Biosciences news, CEO David Happel sold 12,101 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total value of $64,861.36. Following the completion of the sale, the chief executive officer owned 677,621 shares of the company’s stock, valued at $3,632,048.56. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman George Kemble sold 37,688 shares of Sagimet Biosciences stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $7.69, for a total transaction of $289,820.72. Following the transaction, the chairman directly owned 81,005 shares in the company, valued at $622,928.45. This trade represents a 31.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 51,101 shares of company stock worth $361,714. 14.70% of the stock is currently owned by insiders.

Institutional Trading of Sagimet Biosciences

Several hedge funds have recently added to or reduced their stakes in SGMT. Kestra Advisory Services LLC bought a new position in shares of Sagimet Biosciences during the fourth quarter valued at about $391,000. Marshall Wace LLP purchased a new stake in Sagimet Biosciences during the 4th quarter valued at about $4,620,000. Affinity Asset Advisors LLC grew its position in Sagimet Biosciences by 228.1% during the 4th quarter. Affinity Asset Advisors LLC now owns 1,148,245 shares of the company’s stock worth $6,798,000 after acquiring an additional 798,245 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Sagimet Biosciences in the 4th quarter worth approximately $1,802,000. Finally, State Street Corp lifted its position in Sagimet Biosciences by 6.2% in the fourth quarter. State Street Corp now owns 117,388 shares of the company’s stock valued at $695,000 after purchasing an additional 6,900 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

Sagimet Biosciences Stock Performance

Shares of SGMT stock opened at $5.06 on Wednesday. The company has a market capitalization of $164.55 million, a PE ratio of -2.84 and a beta of 3.39. Sagimet Biosciences has a 52-week low of $1.73 and a 52-week high of $11.41. The business’s fifty day moving average is $5.96 and its 200 day moving average is $6.99.

Sagimet Biosciences (NASDAQ:SGMT) last announced its earnings results on Thursday, November 13th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.01. On average, sell-side analysts forecast that Sagimet Biosciences will post -1.6 EPS for the current fiscal year.

Sagimet Biosciences Company Profile

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.