Sagimet Biosciences (NASDAQ:SGMT) Price Target Raised to $29.00 at Citizens Jmp

Sagimet Biosciences (NASDAQ:SGMT) had its price target hoisted by Citizens Jmp from $12.00 to $29.00 in a research report report published on Friday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

A number of other brokerages also recently issued reports on SGMT. Citigroup reissued a “market outperform” rating on shares of Sagimet Biosciences in a research report on Friday. Guggenheim dropped their price objective on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Canaccord Genuity Group upped their target price on Sagimet Biosciences from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Friday, July 17th. Finally, Oppenheimer restated an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sagimet Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Sagimet Biosciences Stock Performance

SGMT stock opened at $10.55 on Friday. Sagimet Biosciences has a 52 week low of $4.50 and a 52 week high of $10.60. The company has a market capitalization of $343.77 million, a PE ratio of -8.24 and a beta of 3.37. The company’s 50-day simple moving average is $7.51 and its 200 day simple moving average is $6.57.

Sagimet Biosciences (NASDAQ:SGMT) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). On average, analysts forecast that Sagimet Biosciences will post -1.15 EPS for the current year.

Insider Activity at Sagimet Biosciences

In related news, insider Elizabeth Rozek sold 10,545 shares of Sagimet Biosciences stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $7.76, for a total value of $81,829.20. Following the transaction, the insider directly owned 224,414 shares of the company’s stock, valued at $1,741,452.64. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George Kemble sold 20,206 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $9.95, for a total transaction of $201,049.70. Following the transaction, the director owned 62,161 shares of the company’s stock, valued at approximately $618,501.95. This represents a 24.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 113,646 shares of company stock valued at $920,491 over the last three months. 11.50% of the stock is owned by insiders.

Institutional Trading of Sagimet Biosciences

Several large investors have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in Sagimet Biosciences by 819.2% during the fourth quarter. Royal Bank of Canada now owns 4,927 shares of the company’s stock worth $29,000 after acquiring an additional 4,391 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Sagimet Biosciences during the 4th quarter worth approximately $30,000. Virtu Financial LLC bought a new position in Sagimet Biosciences in the 4th quarter valued at approximately $62,000. Bank of America Corp DE lifted its stake in Sagimet Biosciences by 81.8% in the 2nd quarter. Bank of America Corp DE now owns 9,943 shares of the company’s stock valued at $76,000 after purchasing an additional 4,473 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Sagimet Biosciences in the third quarter valued at approximately $95,000. 87.86% of the stock is owned by institutional investors and hedge funds.

Sagimet Biosciences News Summary

Here are the key news stories impacting Sagimet Biosciences this week:

• Positive Sentiment: FDA clears Phase 3 acne study: The FDA accepted Sagimet’s Investigational New Drug application and issued a “Study May Proceed” letter for a U.S. Phase 3 trial of oral, once-daily denifanstat in moderate to severe acne. The trial is expected to begin in the second half of 2026 and enroll approximately 800 patients, including about 450 adolescents. This advances the company’s lead program into a late-stage study and could materially improve its commercial prospects if efficacy and safety are confirmed. FDA Study May Proceed letter and IND clearance
• Positive Sentiment: Citizens JMP raises price target: Citizens JMP increased its target for Sagimet from $12 to $29 and maintained a “Market Outperform” rating. The higher target reflects stronger expectations for denifanstat’s development following the FDA clearance. Citizens JMP price target update
• Positive Sentiment: Additional analyst support: Canaccord Genuity also issued a bullish outlook for SGMT, adding to generally positive Wall Street sentiment around the company’s pipeline and potential future appreciation. Canaccord Genuity Sagimet forecast
• Negative Sentiment: Continued operating losses: Sagimet reported a quarterly loss of $0.26 per share, slightly worse than the $0.25 analyst consensus, while HC Wainwright lowered its fourth-quarter loss estimate to $0.32 per share. The company remains dependent on clinical progress and likely future financing.
• Negative Sentiment: Insider selling: Director George Kemble sold 20,206 shares for approximately $201,050, reducing his direct ownership by 24.5%. Although the sale may be routine, it could temper investor sentiment following the recent rally. George Kemble insider sale

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.