Sagimet Biosciences (NASDAQ:SGMT) Posts Earnings Results, Beats Estimates By $0.02 EPS

Sagimet Biosciences (NASDAQ:SGMT) posted its quarterly earnings results on Tuesday. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02, FiscalAI reports.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $9.84 on Tuesday. The stock’s 50 day moving average is $7.29 and its 200 day moving average is $6.48. The firm has a market cap of $320.42 million, a P/E ratio of -7.36 and a beta of 3.37. Sagimet Biosciences has a one year low of $4.50 and a one year high of $10.06.

Analyst Ratings Changes

Several equities analysts recently commented on SGMT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Oppenheimer reiterated an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, May 1st. Canaccord Genuity Group increased their price target on Sagimet Biosciences from $28.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Citizens Jmp cut their price objective on Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 19th. Finally, Guggenheim reduced their price objective on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Insider Buying and Selling at Sagimet Biosciences

In other Sagimet Biosciences news, Director George Kemble sold 18,844 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $7.46, for a total transaction of $140,576.24. Following the completion of the sale, the director owned 62,161 shares of the company’s stock, valued at approximately $463,721.06. This represents a 23.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Happel sold 64,051 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was 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 approximately $5,754,583.20. The trade was a 7.95% 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. In the last 90 days, insiders sold 93,440 shares of company stock valued at $719,441. 11.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sagimet Biosciences

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Sagimet Biosciences by 0.6% in the second 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 period. Landscape Capital Management L.L.C. raised its position in shares of Sagimet Biosciences by 14.1% in the 4th quarter. Landscape Capital Management L.L.C. now owns 25,901 shares of the company’s stock worth $153,000 after acquiring an additional 3,198 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Sagimet Biosciences by 10.1% in the 4th quarter. HighTower Advisors LLC now owns 37,189 shares of the company’s stock valued at $220,000 after purchasing an additional 3,408 shares during the period. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 3,454 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Sagimet Biosciences by 819.2% during the 4th quarter. Royal Bank of Canada now owns 4,927 shares of the company’s stock valued at $29,000 after purchasing an additional 4,391 shares in the last quarter. Institutional investors own 87.86% of the company’s stock.

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.