Sagimet Biosciences (NASDAQ:SGMT) Price Target Raised to $56.00

Sagimet Biosciences (NASDAQ:SGMT) had its target price lifted by Canaccord Genuity Group from $49.00 to $56.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on SGMT. Guggenheim decreased their price target on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Oppenheimer reissued an “outperform” rating on shares of Sagimet Biosciences in a research note on Friday, May 1st. Citizens Jmp cut their target price on Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Seven 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Sagimet Biosciences Stock Performance

NASDAQ:SGMT opened at $10.55 on Wednesday. Sagimet Biosciences has a 52 week low of $4.50 and a 52 week high of $10.60. The firm’s fifty day moving average is $7.51 and its 200-day moving average is $6.57. The firm has a market cap of $343.77 million, a P/E ratio of -8.24 and a beta of 3.37.

Sagimet Biosciences (NASDAQ:SGMT) last announced its earnings results on Tuesday, August 11th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). As a group, sell-side analysts anticipate that Sagimet Biosciences will post -1.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David Happel sold 64,051 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $7.76, for a total transaction of $497,035.76. Following the transaction, the chief executive officer owned 741,570 shares of the company’s stock, valued at $5,754,583.20. This represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Elizabeth Rozek sold 10,545 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $7.76, for a total transaction of $81,829.20. Following the transaction, the insider directly owned 224,414 shares in the company, valued at $1,741,452.64. This trade represents a 4.49% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 113,646 shares of company stock worth $920,491. 11.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGMT. Renaissance Technologies LLC grew its stake in Sagimet Biosciences by 82.6% in the first 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 period. Dumac Inc. bought a new position in shares of Sagimet Biosciences in the 4th quarter worth $421,000. China Universal Asset Management Co. Ltd. acquired a new stake in Sagimet Biosciences in the 4th quarter valued at $30,000. LPL Financial LLC increased its stake in Sagimet Biosciences by 31.3% during the 4th quarter. LPL Financial LLC now owns 20,574 shares of the company’s stock valued at $122,000 after purchasing an additional 4,899 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in Sagimet Biosciences during the first quarter worth $105,000. 87.86% of the stock is owned by institutional investors and hedge funds.

Sagimet Biosciences News Summary

Here are the key news stories impacting Sagimet Biosciences this week:

• Positive Sentiment: FDA clears Phase 3 acne study: The FDA accepted Sagimet’s Investigational New Drug application and issued a “Study May Proceed” letter for a U.S. Phase 3 trial of oral, once-daily denifanstat in moderate to severe acne. The trial is expected to begin in the second half of 2026 and enroll approximately 800 patients, including about 450 adolescents. This advances the company’s lead program into a late-stage study and could materially improve its commercial prospects if efficacy and safety are confirmed. FDA Study May Proceed letter and IND clearance
• Positive Sentiment: Citizens JMP raises price target: Citizens JMP increased its target for Sagimet from $12 to $29 and maintained a “Market Outperform” rating. The higher target reflects stronger expectations for denifanstat’s development following the FDA clearance. Citizens JMP price target update
• Positive Sentiment: Additional analyst support: Canaccord Genuity also issued a bullish outlook for SGMT, adding to generally positive Wall Street sentiment around the company’s pipeline and potential future appreciation. Canaccord Genuity Sagimet forecast
• Negative Sentiment: Continued operating losses: Sagimet reported a quarterly loss of $0.26 per share, slightly worse than the $0.25 analyst consensus, while HC Wainwright lowered its fourth-quarter loss estimate to $0.32 per share. The company remains dependent on clinical progress and likely future financing.
• Negative Sentiment: Insider selling: Director George Kemble sold 20,206 shares for approximately $201,050, reducing his direct ownership by 24.5%. Although the sale may be routine, it could temper investor sentiment following the recent rally. George Kemble insider sale

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.