Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Average Rating of “Moderate Buy” by Brokerages

Sagimet Biosciences Inc. (NASDAQ:SGMT) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.75.

SGMT has been the subject of several recent research reports. Canaccord Genuity Group raised their target price on shares of Sagimet Biosciences from $28.00 to $49.00 and gave the company a “buy” rating in a report on Monday, May 4th. Guggenheim dropped their target price on shares of Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Rodman & Renshaw initiated coverage on shares of Sagimet Biosciences in a report on Thursday, March 26th. They set a “buy” rating and a $28.00 target price for the company. Wall Street Zen upgraded shares of Sagimet Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Barclays assumed coverage on shares of Sagimet Biosciences in a report on Tuesday, January 27th. They set an “equal weight” rating and a $8.00 target price for the company.

Sagimet Biosciences Trading Up 1.8%

NASDAQ:SGMT opened at $7.22 on Friday. The firm has a 50-day moving average price of $6.24 and a two-hundred day moving average price of $6.20. Sagimet Biosciences has a twelve month low of $3.32 and a twelve month high of $11.41. The company has a market capitalization of $235.26 million, a P/E ratio of -5.39 and a beta of 3.60.

Sagimet Biosciences (NASDAQ:SGMT) last posted its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.06. On average, equities research analysts predict that Sagimet Biosciences will post -1.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new stake in shares of Sagimet Biosciences during the first quarter worth about $105,000. Geode Capital Management LLC grew its holdings in shares of Sagimet Biosciences by 0.6% during the second quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock worth $2,023,000 after buying an additional 1,600 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Sagimet Biosciences by 8.9% during the second quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock worth $322,000 after buying an additional 3,454 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Sagimet Biosciences by 137.0% during the second 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 purchased a new stake in shares of Sagimet Biosciences during the second quarter worth about $1,130,000. 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.