Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $26.00.

SGMT has been the subject of several analyst reports. Wall Street Zen cut shares of Sagimet Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Citigroup reaffirmed an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, November 14th. HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of Sagimet Biosciences in a research report on Tuesday, February 3rd. Barclays initiated coverage on shares of Sagimet Biosciences in a report on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 target price on the stock. Finally, Citizens Jmp raised their target price on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the company a “market outperform” rating in a research note on Friday, November 14th.

Sagimet Biosciences Stock Down 0.7%

SGMT stock opened at $5.41 on Friday. The company has a market cap of $175.93 million, a price-to-earnings ratio of -3.04 and a beta of 3.35. Sagimet Biosciences has a twelve month low of $1.73 and a twelve month high of $11.41. The business has a 50 day moving average price of $5.78 and a two-hundred day moving average price of $6.68.

Insider Activity

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

Institutional Investors Weigh In On Sagimet Biosciences

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in 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 purchasing an additional 4,391 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Sagimet Biosciences in the fourth quarter valued at $30,000. Wedmont Private Capital acquired a new position in shares of Sagimet Biosciences in the fourth quarter valued at $60,000. Virtu Financial LLC bought a new position in shares of Sagimet Biosciences in the fourth quarter valued at about $62,000. Finally, Hamilton Lane Advisors LLC acquired a new stake in shares of Sagimet Biosciences during the 4th quarter worth about $66,000. 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.