Sagimet Biosciences (NASDAQ:SGMT) Stock Rating Upgraded by Barclays

Sagimet Biosciences (NASDAQ:SGMT) was upgraded by investment analysts at Barclays to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

SGMT has been the subject of several other research reports. Citigroup reaffirmed an “outperform” rating on shares of Sagimet Biosciences in a research note on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Thursday, January 22nd. Canaccord Genuity Group reissued a “buy” rating and issued a $28.00 target price on shares of Sagimet Biosciences in a research note on Thursday, October 2nd. Zacks Research cut Sagimet Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Citizens Jmp raised their target price on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday, November 14th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Sagimet Biosciences Stock Down 3.8%

Sagimet Biosciences stock opened at $5.86 on Tuesday. Sagimet Biosciences has a 12-month low of $1.73 and a 12-month high of $11.41. The stock has a market cap of $190.57 million, a price-to-earnings ratio of -3.29 and a beta of 3.39. The business’s 50-day simple moving average is $6.23 and its 200 day simple moving average is $7.34.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.01. As a group, sell-side analysts expect that Sagimet Biosciences will post -1.6 EPS for the current year.

Insider Buying and Selling

In other news, Chairman George Kemble sold 37,688 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $7.69, for a total value of $289,820.72. Following the sale, the chairman directly owned 81,005 shares of the company’s stock, valued at approximately $622,928.45. This represents a 31.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sagimet Biosciences

A number of institutional investors have recently bought and sold shares of SGMT. China Universal Asset Management Co. Ltd. bought a new position in shares of Sagimet Biosciences during the 4th quarter worth approximately $30,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Sagimet Biosciences in the second quarter valued at about $41,000. Bank of America Corp DE lifted its stake in shares of Sagimet Biosciences by 81.8% during the 2nd quarter. Bank of America Corp DE now owns 9,943 shares of the company’s stock worth $76,000 after buying an additional 4,473 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of Sagimet Biosciences during the 4th quarter worth about $60,000. Finally, Hamilton Lane Advisors LLC acquired a new position in Sagimet Biosciences in the 4th quarter valued at about $66,000. Institutional investors and hedge funds 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.