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

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $25.5714.

Several analysts have recently weighed in on the company. Guggenheim decreased their price objective on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Citizens Jmp cut their target price on Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 19th. Canaccord Genuity Group raised their target price on Sagimet Biosciences from $28.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Finally, Oppenheimer reissued an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, May 1st.

Sagimet Biosciences Trading Up 8.1%

Shares of Sagimet Biosciences stock opened at $8.64 on Thursday. Sagimet Biosciences has a 1 year low of $4.50 and a 1 year high of $10.06. The company’s fifty day simple moving average is $7.18 and its 200-day simple moving average is $6.42. The company has a market cap of $281.53 million, a price-to-earnings ratio of -6.45 and a beta of 3.37.

Sagimet Biosciences (NASDAQ:SGMT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.06. As a group, research analysts forecast that Sagimet Biosciences will post -1.15 earnings per share for the current fiscal year.

Insider Activity

In other Sagimet Biosciences news, Director George Kemble sold 18,844 shares of Sagimet Biosciences stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $7.46, for a total transaction of $140,576.24. Following the sale, the director directly owned 62,161 shares of the company’s stock, valued at approximately $463,721.06. The trade was a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Happel sold 64,051 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $7.76, for a total value of $497,035.76. Following the completion of the sale, the chief executive officer owned 741,570 shares in the company, valued at approximately $5,754,583.20. This represents a 7.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 93,440 shares of company stock worth $719,441. Corporate insiders own 11.50% of the company’s stock.

Institutional Trading of Sagimet Biosciences

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC bought a new stake in Sagimet Biosciences in the first quarter valued at $105,000. Geode Capital Management LLC lifted its holdings in shares of Sagimet Biosciences by 0.6% during the second quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock valued at $2,023,000 after acquiring an additional 1,600 shares during the period. American Century Companies Inc. lifted its holdings in shares of Sagimet Biosciences by 8.9% during the second quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock valued at $322,000 after acquiring an additional 3,454 shares during the period. XTX Topco Ltd boosted its stake in shares of Sagimet Biosciences by 137.0% in the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock valued at $195,000 after purchasing an additional 14,813 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Sagimet Biosciences in the 2nd quarter valued at $1,130,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

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.