Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Consensus Rating of “Moderate Buy” by Brokerages

Sagimet Biosciences Inc. (NASDAQ:SGMT) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $26.25.

Several research firms have weighed in on SGMT. Wall Street Zen raised Sagimet Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Rodman & Renshaw began coverage on shares of Sagimet Biosciences in a report on Thursday, March 26th. They set a “buy” rating and a $28.00 price target for the company. Guggenheim started coverage on shares of Sagimet Biosciences in a research note on Tuesday, February 3rd. They issued a “buy” rating and a $27.00 price objective on the stock. Barclays started coverage on shares of Sagimet Biosciences in a research report on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Thursday, January 22nd.

Sagimet Biosciences Stock Performance

Sagimet Biosciences stock opened at $5.24 on Thursday. The firm has a market cap of $170.72 million, a price-to-earnings ratio of -3.34 and a beta of 3.17. Sagimet Biosciences has a 1 year low of $1.73 and a 1 year high of $11.41. The firm’s 50 day moving average price is $5.44 and its two-hundred day moving average price is $6.41.

Sagimet Biosciences (NASDAQ:SGMT) last released its quarterly earnings results on Wednesday, March 11th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.14. As a group, equities analysts predict that Sagimet Biosciences will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Happel sold 12,101 shares of the firm’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 transaction, the chief executive officer directly owned 677,621 shares of the company’s stock, valued at approximately $3,632,048.56. This trade represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 14.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SGMT. NewEdge Advisors LLC acquired a new position in shares of Sagimet Biosciences during the 1st quarter worth about $105,000. Geode Capital Management LLC grew its holdings in Sagimet Biosciences by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock valued at $2,023,000 after buying an additional 1,600 shares during the last quarter. American Century Companies Inc. grew its holdings in Sagimet Biosciences by 8.9% in the 2nd quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock valued at $322,000 after buying an additional 3,454 shares during the last quarter. XTX Topco Ltd increased its position in Sagimet Biosciences by 137.0% in the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock worth $195,000 after buying an additional 14,813 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Sagimet Biosciences during the second quarter worth approximately $1,130,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

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.