Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives $26.00 Average Target Price from Analysts

Sagimet Biosciences Inc. (NASDAQ:SGMT) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat.com 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 target price among analysts that have issued ratings on the stock in the last year is $26.00.

SGMT has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Sagimet Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Thursday, January 22nd. Citigroup reaffirmed an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, November 14th. Barclays began coverage on shares of Sagimet Biosciences in a research note on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 target price for the company. Finally, Wall Street Zen downgraded Sagimet Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd.

Insider Buying and Selling at Sagimet Biosciences

In related news, CEO David Happel sold 12,101 shares of the business’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 transaction of $64,861.36. Following the transaction, the chief executive officer directly owned 677,621 shares of the company’s stock, valued at approximately $3,632,048.56. The trade was a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Sagimet Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Bailard Inc. acquired a new stake in shares of Sagimet Biosciences during the 2nd quarter worth about $221,000. AlphaQuest LLC acquired a new position in Sagimet Biosciences in the 3rd quarter valued at about $804,000. Bank of America Corp DE grew its stake in Sagimet Biosciences by 158.6% in the 3rd quarter. Bank of America Corp DE now owns 25,708 shares of the company’s stock valued at $176,000 after buying an additional 15,765 shares during the last quarter. Barclays PLC raised its holdings in Sagimet Biosciences by 357.8% in the 4th quarter. Barclays PLC now owns 29,338 shares of the company’s stock valued at $174,000 after acquiring an additional 22,929 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in Sagimet Biosciences during the third quarter worth approximately $156,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Sagimet Biosciences Stock Up 2.8%

Shares of Sagimet Biosciences stock opened at $5.53 on Friday. The stock has a market cap of $179.84 million, a P/E ratio of -3.11 and a beta of 3.35. Sagimet Biosciences has a 12-month low of $1.73 and a 12-month high of $11.41. The business’s 50 day moving average is $5.76 and its 200-day moving average is $6.65.

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.