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

Sagimet Biosciences Inc. (NASDAQ:SGMT) has been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $26.00.

SGMT has been the subject of a number of analyst reports. Zacks Research lowered Sagimet Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Citizens Jmp increased their target price on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the company a “market outperform” rating in a report on Friday, November 14th. Guggenheim initiated coverage on shares of Sagimet Biosciences in a research report on Tuesday, February 3rd. They set a “buy” rating and a $27.00 price target on the stock. Wall Street Zen downgraded shares of Sagimet Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of Sagimet Biosciences in a research note on Tuesday, February 3rd.

Insider Buying and Selling

In other news, CEO David Happel sold 12,101 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 677,621 shares of the company’s stock, valued at $3,632,048.56. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman George Kemble sold 37,688 shares of Sagimet Biosciences stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $7.69, for a total value of $289,820.72. Following the sale, the chairman owned 81,005 shares in the company, valued at $622,928.45. The trade was a 31.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,101 shares of company stock valued at $361,714 over the last ninety days. 14.70% of the stock is currently owned by company insiders.

Institutional Trading of Sagimet Biosciences

Large investors have recently added to or reduced their stakes in the stock. Bailard Inc. purchased a new position in Sagimet Biosciences in the second quarter valued at approximately $221,000. AlphaQuest LLC bought a new stake in shares of Sagimet Biosciences in the third quarter valued at $804,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Sagimet Biosciences during the 2nd quarter valued at $41,000. BNP Paribas Financial Markets grew its stake in shares of Sagimet Biosciences by 9,168.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 26,785 shares of the company’s stock worth $204,000 after acquiring an additional 26,496 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Sagimet Biosciences by 81.8% during the 2nd quarter. Bank of America Corp DE now owns 9,943 shares of the company’s stock worth $76,000 after acquiring an additional 4,473 shares during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Sagimet Biosciences Stock Up 1.8%

Shares of Sagimet Biosciences stock opened at $5.15 on Wednesday. Sagimet Biosciences has a 52 week low of $1.73 and a 52 week high of $11.41. The business has a 50 day moving average price of $5.92 and a 200-day moving average price of $6.94. The company has a market cap of $167.48 million, a PE ratio of -2.89 and a beta of 3.39.

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.