Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Sagimet Biosciences has a consensus rating of “Moderate Buy” from 11 brokerages, with eight buy ratings, two holds, and one sell. The average 1-year price target is about $25.57.
• The company’s shares recently traded at $7.37, near the middle of their 52-week range of $4.50 to $11.41. Sagimet has a market cap of roughly $240 million and a high beta of 3.35, indicating elevated volatility.
• Sagimet reported quarterly EPS of -$0.33, beating expectations of -$0.39 by $0.06. The clinical-stage biotech is focused on fibrotic disease treatments, led by its pipeline candidate CM-101.

Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $25.5714.

SGMT has been the subject of a number of research reports. Oppenheimer reiterated an "outperform" rating on shares of Sagimet Biosciences in a report on Friday, May 1st. Wall Street Zen raised 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 report on Tuesday, April 21st. Rodman & Renshaw initiated coverage on shares of Sagimet Biosciences in a research note on Thursday, March 26th. They set a "buy" rating and a $28.00 price target for the company. Finally, Citizens Jmp cut their price objective on shares of Sagimet Biosciences from $35.00 to $12.00 and set a "market outperform" rating on the stock in a research report on Tuesday, May 19th.

Sagimet Biosciences Stock Performance

SGMT stock traded up $0.02 during midday trading on Friday, hitting $7.37. 1,113,090 shares of the company's stock were exchanged, compared to its average volume of 1,416,679. Sagimet Biosciences has a one year low of $4.50 and a one year high of $11.41. The company has a market cap of $240.11 million, a PE ratio of -5.50 and a beta of 3.35. The stock's fifty day moving average price is $7.15 and its 200-day moving average price is $6.23.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.06. On average, analysts expect that Sagimet Biosciences will post -1.15 EPS for the current year.

Institutional Investors Weigh In On Sagimet Biosciences

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 1,600 shares during the period. Landscape Capital Management L.L.C. raised its stake in Sagimet Biosciences by 14.1% in the fourth quarter. Landscape Capital Management L.L.C. now owns 25,901 shares of the company's stock valued at $153,000 after buying an additional 3,198 shares during the period. HighTower Advisors LLC lifted its position in shares of Sagimet Biosciences by 10.1% in the fourth quarter. HighTower Advisors LLC now owns 37,189 shares of the company's stock valued at $220,000 after buying an additional 3,408 shares during the last quarter. American Century Companies Inc. boosted its stake 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 worth $322,000 after acquiring an additional 3,454 shares during the period. Finally, 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. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.