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

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

Sagimet Biosciences Trading Up 0.4%

NASDAQ:SGMT traded up $0.03 during trading hours on Tuesday, hitting $9.60. The company had a trading volume of 475,506 shares, compared to its average volume of 1,162,065. Sagimet Biosciences has a 1 year low of $4.50 and a 1 year high of $10.06. The company has a market cap of $312.90 million, a P/E ratio of -7.22 and a beta of 3.37. The company has a 50-day moving average of $7.29 and a 200 day moving average of $6.48.

Insider Activity

In other Sagimet Biosciences news, Director George Kemble sold 18,844 shares of Sagimet Biosciences stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $7.46, for a total transaction of $140,576.24. Following the transaction, the director directly owned 62,161 shares of the company’s stock, valued at $463,721.06. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elizabeth Rozek sold 10,545 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $7.76, for a total transaction of $81,829.20. Following the completion of the transaction, the insider owned 224,414 shares in the company, valued at $1,741,452.64. The trade was a 4.49% 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 quarter, insiders have sold 93,440 shares of company stock valued at $719,441. 11.50% of the stock is currently owned by insiders.

Institutional Trading of Sagimet Biosciences

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Sagimet Biosciences in the fourth quarter valued at approximately $62,000. XTX Topco Ltd increased its stake in Sagimet Biosciences by 53.6% during the fourth quarter. XTX Topco Ltd now owns 91,737 shares of the company’s stock worth $543,000 after acquiring an additional 32,003 shares during the last quarter. 683 Capital Management LLC purchased a new stake in Sagimet Biosciences in the fourth quarter valued at $748,000. Royal Bank of Canada raised its position in Sagimet Biosciences by 819.2% in the fourth 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 during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of Sagimet Biosciences by 141.6% in the 4th quarter. Squarepoint Ops LLC now owns 84,733 shares of the company’s stock valued at $502,000 after purchasing an additional 49,668 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Analysts Set New Price Targets

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

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.