Sagimet Biosciences (NASDAQ:SGMT) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Sagimet Biosciences (NASDAQ:SGMT) released its quarterly earnings results on Wednesday. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.13, reports.

Sagimet Biosciences Trading Up 3.8%

Shares of SGMT opened at $5.74 on Thursday. Sagimet Biosciences has a 52 week low of $1.73 and a 52 week high of $11.41. The firm has a market cap of $186.68 million, a price-to-earnings ratio of -3.22 and a beta of 3.35. The stock has a 50 day moving average of $5.76 and a 200-day moving average of $6.65.

Insider Activity

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

Institutional Trading of Sagimet Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Sagimet Biosciences during the fourth quarter worth $62,000. XTX Topco Ltd boosted its holdings in shares of Sagimet Biosciences by 53.6% in the 4th quarter. XTX Topco Ltd now owns 91,737 shares of the company’s stock valued at $543,000 after buying an additional 32,003 shares during the period. 683 Capital Management LLC bought a new stake in shares of Sagimet Biosciences during the 4th quarter valued at about $748,000. Royal Bank of Canada grew 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 buying an additional 4,391 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in Sagimet Biosciences by 141.6% during the fourth quarter. Squarepoint Ops LLC now owns 84,733 shares of the company’s stock worth $502,000 after acquiring an additional 49,668 shares during the period. Institutional investors own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SGMT shares. Barclays started coverage on Sagimet Biosciences in a research report on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Thursday, January 22nd. Zacks Research lowered shares of Sagimet Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Guggenheim started coverage on shares of Sagimet Biosciences in a report on Tuesday, February 3rd. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Citigroup reiterated an “outperform” rating on shares of Sagimet Biosciences in a research note on Friday, November 14th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

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.