Brokerages Set Sagimet Biosciences Inc. (NASDAQ:SGMT) Price Target at $25.57

Sagimet Biosciences Inc. (NASDAQ:SGMT) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $25.1667.

SGMT has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Canaccord Genuity Group upped their price target on Sagimet Biosciences from $28.00 to $49.00 and gave the company a “buy” rating in a report on Monday, May 4th. Citizens Jmp reduced their price objective on 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, Guggenheim decreased their price objective on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th.

Sagimet Biosciences Trading Up 5.6%

Shares of Sagimet Biosciences stock opened at $9.57 on Thursday. Sagimet Biosciences has a 1 year low of $4.50 and a 1 year high of $10.06. The company’s fifty day simple moving average is $7.29 and its 200-day simple moving average is $6.48. The company has a market cap of $311.79 million, a price-to-earnings ratio of -7.14 and a beta of 3.37.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.06. As a group, research analysts forecast that Sagimet Biosciences will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Happel sold 64,051 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $7.76, for a total value of $497,035.76. Following the completion of the transaction, the chief executive officer directly owned 741,570 shares of the company’s stock, valued at $5,754,583.20. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Elizabeth Rozek sold 10,545 shares of Sagimet Biosciences stock in a transaction on Monday, July 20th. The stock was sold at an average price of $7.76, for a total transaction of $81,829.20. Following the sale, the insider owned 224,414 shares in the company, valued at $1,741,452.64. This represents a 4.49% decrease in their position. 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. Insiders sold a total of 93,440 shares of company stock valued at $719,441 over the last ninety days. 11.50% of the stock is owned by company insiders.

Institutional Trading of Sagimet Biosciences

Several institutional investors have recently made changes to their positions in SGMT. NewEdge Advisors LLC acquired a new position in Sagimet Biosciences in the first quarter worth about $105,000. Geode Capital Management LLC boosted its holdings in Sagimet Biosciences by 0.6% during the second quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock valued at $2,023,000 after purchasing an additional 1,600 shares in the last quarter. American Century Companies Inc. grew 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. XTX Topco Ltd raised its holdings in shares of Sagimet Biosciences by 137.0% in the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock worth $195,000 after buying an additional 14,813 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Sagimet Biosciences in the 2nd quarter worth approximately $1,130,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

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.