Sagimet Biosciences (NASDAQ:SGMT) Upgraded to “Hold” at Wall Street Zen

Sagimet Biosciences (NASDAQ:SGMT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently weighed in on SGMT. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Sagimet Biosciences in a research report on Wednesday. Citizens Jmp lifted their price target on Sagimet Biosciences from $33.00 to $35.00 and gave the company a “market outperform” rating in a research note on Friday, November 14th. Barclays started coverage on shares of Sagimet Biosciences in a research report on Tuesday, January 27th. They set an “equal weight” rating and a $8.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Thursday, January 22nd. Finally, Citigroup restated an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, November 14th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Sagimet Biosciences Trading Down 2.4%

NASDAQ:SGMT opened at $5.21 on Friday. The stock has a fifty day moving average price of $5.73 and a 200 day moving average price of $6.62. Sagimet Biosciences has a 12-month low of $1.73 and a 12-month high of $11.41. The firm has a market cap of $169.43 million, a PE ratio of -3.32 and a beta of 3.35.

Sagimet Biosciences (NASDAQ:SGMT) last posted its quarterly earnings results on Wednesday, March 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.14. Equities analysts forecast that Sagimet Biosciences will post -1.6 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Happel sold 12,101 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total transaction of $64,861.36. Following the transaction, the chief executive officer directly owned 677,621 shares in the company, valued at $3,632,048.56. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sagimet Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in SGMT. Geode Capital Management LLC grew its position in Sagimet Biosciences by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock valued at $2,023,000 after buying an additional 1,600 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in Sagimet Biosciences by 14.1% in the 4th quarter. Landscape Capital Management L.L.C. now owns 25,901 shares of the company’s stock worth $153,000 after purchasing an additional 3,198 shares in the last quarter. HighTower Advisors LLC raised its stake in Sagimet Biosciences by 10.1% during the 4th quarter. HighTower Advisors LLC now owns 37,189 shares of the company’s stock valued at $220,000 after purchasing an additional 3,408 shares during the period. American Century Companies Inc. increased its holdings 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. Finally, Royal Bank of Canada lifted its holdings in shares of Sagimet Biosciences by 819.2% during the 4th quarter. Royal Bank of Canada now owns 4,927 shares of the company’s stock valued at $29,000 after buying an additional 4,391 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

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.