Canaccord Genuity Group Raises Sagimet Biosciences (NASDAQ:SGMT) Price Target to $49.00

Key Points

• Canaccord Genuity raised its price target on Sagimet from $28.00 to $49.00 and reiterated a "buy" rating, while analysts' consensus remains a "Moderate Buy" with an average target of $28.63.
• Sagimet shares trade around $7.70 (market cap ≈ $250.9M) and the company is unprofitable—reported EPS of -$0.29 last quarter (beating -$0.43) and is forecast to post about -1.51 EPS for the year—leaving the stock far below Canaccord's new target.
• Sagimet is a clinical‑stage biotech developing anti‑fibrotic therapies led by CM‑101 (a CCL24 neutralizer) in early clinical trials; insiders own ~14.7% while institutional/hedge fund ownership is roughly 87.9%, and the CEO recently sold 12,101 shares.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) had its target price raised by equities researchers at Canaccord Genuity Group from $28.00 to $49.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock.

A number of other equities analysts have also recently issued reports on SGMT. Guggenheim cut their target price on Sagimet Biosciences from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Sagimet Biosciences in a report on Tuesday, April 21st. Barclays assumed coverage on Sagimet Biosciences in a report on Tuesday, January 27th. They issued an "equal weight" rating and a $8.00 target price on the stock. Wall Street Zen raised Sagimet Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Finally, HC Wainwright reissued a "buy" rating and issued a $29.00 price target on shares of Sagimet Biosciences in a research report on Wednesday, March 11th. Nine 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 company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.63.

Sagimet Biosciences Trading Up 1.2%

Shares of SGMT traded up $0.09 during trading hours on Monday, reaching $7.70. The stock had a trading volume of 290,916 shares, compared to its average volume of 1,193,238. Sagimet Biosciences has a 12 month low of $3.08 and a 12 month high of $11.41. The firm has a 50-day simple moving average of $5.69 and a 200 day simple moving average of $6.28. The company has a market capitalization of $250.87 million, a price-to-earnings ratio of -4.90 and a beta of 3.60.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its earnings results on Wednesday, March 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.43) by $0.14. On average, equities analysts forecast that Sagimet Biosciences will post -1.51 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Happel sold 12,101 shares of the stock in a transaction 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 approximately $3,632,048.56. This represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On Sagimet Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of SGMT. NewEdge Advisors LLC purchased a new stake in Sagimet Biosciences in the 1st quarter valued at $105,000. Geode Capital Management LLC increased its position in shares of Sagimet Biosciences by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 265,324 shares of the company's stock valued at $2,023,000 after purchasing an additional 1,600 shares during the last quarter. American Century Companies Inc. increased its position in shares of Sagimet Biosciences by 8.9% during 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 last quarter. XTX Topco Ltd increased its position in shares of Sagimet Biosciences by 137.0% during the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company's stock valued at $195,000 after purchasing an additional 14,813 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Sagimet Biosciences during the 2nd quarter valued at $1,130,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

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.

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