Sagimet Biosciences (NASDAQ:SGMT) Now Covered by Rodman & Renshaw

Rodman & Renshaw started coverage on shares of Sagimet Biosciences (NASDAQ:SGMT) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $28.00 price target on the stock.

A number of other equities analysts have also recently commented on SGMT. HC Wainwright reissued a “buy” rating and set a $29.00 price target on shares of Sagimet Biosciences in a report on Wednesday, March 11th. Wall Street Zen upgraded Sagimet Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Thursday, January 22nd. Barclays began 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 for the company. Finally, Guggenheim began coverage on shares of Sagimet Biosciences in a report on Tuesday, February 3rd. They set a “buy” rating and a $27.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, two have given 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 target price of $26.25.

Sagimet Biosciences Price Performance

Shares of NASDAQ:SGMT opened at $5.11 on Thursday. Sagimet Biosciences has a 1 year low of $1.73 and a 1 year high of $11.41. The stock has a market capitalization of $166.51 million, a price-to-earnings ratio of -3.25 and a beta of 3.35. The company’s 50 day simple moving average is $5.54 and its 200 day simple moving average is $6.47.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Wednesday, March 11th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.14. As a group, analysts anticipate that Sagimet Biosciences will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling at Sagimet Biosciences

In related news, CEO David Happel sold 12,101 shares of the business’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 sale, the chief executive officer owned 677,621 shares in the company, valued at $3,632,048.56. The trade was a 1.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 14.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SGMT. Affinity Asset Advisors LLC grew its holdings in Sagimet Biosciences by 228.1% during the 4th quarter. Affinity Asset Advisors LLC now owns 1,148,245 shares of the company’s stock worth $6,798,000 after acquiring an additional 798,245 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Sagimet Biosciences by 6,484.7% during the third quarter. Millennium Management LLC now owns 776,377 shares of the company’s stock worth $5,326,000 after purchasing an additional 788,537 shares during the period. Marshall Wace LLP acquired a new position in shares of Sagimet Biosciences during the fourth quarter worth $4,620,000. Schonfeld Strategic Advisors LLC grew its stake in shares of Sagimet Biosciences by 462.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 523,774 shares of the company’s stock worth $3,593,000 after purchasing an additional 430,644 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Sagimet Biosciences in the fourth quarter worth $1,802,000. 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.