Sagimet Biosciences (NASDAQ:SGMT) Upgraded at Barclays

Barclays upgraded shares of Sagimet Biosciences (NASDAQ:SGMT) to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on SGMT. Wall Street Zen downgraded Sagimet Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Canaccord Genuity Group reiterated a “buy” rating and set a $28.00 price target on shares of Sagimet Biosciences in a report on Thursday, October 2nd. Citigroup reissued an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Thursday, January 22nd. Finally, Zacks Research lowered shares of Sagimet Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Sagimet Biosciences Trading Down 8.5%

Sagimet Biosciences stock opened at $5.36 on Tuesday. The company has a market capitalization of $174.31 million, a P/E ratio of -3.01 and a beta of 3.39. Sagimet Biosciences has a 1-year low of $1.73 and a 1-year high of $11.41. The firm’s fifty day simple moving average is $6.20 and its 200-day simple moving average is $7.32.

Sagimet Biosciences (NASDAQ:SGMT) last posted its 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. On average, equities research analysts predict that Sagimet Biosciences will post -1.6 earnings per share for the current year.

Insider Activity

In related news, Chairman George Kemble sold 37,688 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $7.69, for a total transaction of $289,820.72. Following the completion of the transaction, the chairman directly owned 81,005 shares in the company, valued at $622,928.45. This represents a 31.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Sagimet Biosciences by 6,484.7% in the third quarter. Millennium Management LLC now owns 776,377 shares of the company’s stock valued at $5,326,000 after buying an additional 788,537 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in Sagimet Biosciences by 462.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 523,774 shares of the company’s stock valued at $3,593,000 after acquiring an additional 430,644 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Sagimet Biosciences by 231.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 412,841 shares of the company’s stock worth $3,146,000 after acquiring an additional 288,341 shares during the period. Jump Financial LLC acquired a new stake in shares of Sagimet Biosciences during the 2nd quarter worth approximately $1,130,000. Finally, AlphaQuest LLC bought a new stake in shares of Sagimet Biosciences during the third quarter valued at approximately $804,000. Institutional investors own 87.86% of the company’s stock.

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.