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

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $25.5714.

Several equities research analysts have recently issued reports on SGMT shares. Oppenheimer restated an “outperform” rating on shares of Sagimet Biosciences in a report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Tuesday, April 21st. Rodman & Renshaw began coverage on Sagimet Biosciences in a research note on Thursday, March 26th. They set a “buy” rating and a $28.00 target price on the stock. Canaccord Genuity Group increased their price target on Sagimet Biosciences from $28.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Citizens Jmp decreased their price target 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.

Sagimet Biosciences Stock Performance

NASDAQ:SGMT opened at $7.82 on Friday. The firm has a market capitalization of $254.78 million, a PE ratio of -5.84 and a beta of 3.35. The stock’s fifty day moving average is $7.12 and its 200 day moving average is $6.28. Sagimet Biosciences has a fifty-two week low of $4.50 and a fifty-two week high of $11.41.

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

Institutional Trading of Sagimet Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new stake in shares of Sagimet Biosciences during the first quarter valued at $105,000. Geode Capital Management LLC lifted its holdings in Sagimet Biosciences by 0.6% during 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 in the last quarter. American Century Companies Inc. lifted its holdings in Sagimet Biosciences by 8.9% during 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 in the last quarter. XTX Topco Ltd boosted 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 valued at $195,000 after buying an additional 14,813 shares during the period. Finally, Jump Financial LLC bought a new position in Sagimet Biosciences in the 2nd quarter worth about $1,130,000. 87.86% of the stock is currently owned by institutional investors.

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.