Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) has received an average rating of "Buy" from the five research firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $26.60.
A number of analysts have recently issued reports on SGMT shares. HC Wainwright reiterated a "buy" rating and set a $32.00 target price on shares of Sagimet Biosciences in a report on Tuesday, March 11th. Jones Trading boosted their price objective on shares of Sagimet Biosciences from $15.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, June 6th.
View Our Latest Stock Analysis on SGMT
Sagimet Biosciences Price Performance
NASDAQ:SGMT traded up $0.18 during trading hours on Tuesday, reaching $8.21. 174,640 shares of the company were exchanged, compared to its average volume of 1,187,900. The firm has a market cap of $251.92 million, a price-to-earnings ratio of -4.67 and a beta of 3.32. The stock has a 50 day simple moving average of $4.93 and a 200 day simple moving average of $4.29. Sagimet Biosciences has a 52-week low of $1.73 and a 52-week high of $10.43.
Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.56) earnings per share for the quarter, beating analysts' consensus estimates of ($0.79) by $0.23. On average, analysts predict that Sagimet Biosciences will post -1.6 EPS for the current fiscal year.
Hedge Funds Weigh In On Sagimet Biosciences
A number of institutional investors and hedge funds have recently bought and sold shares of SGMT. NewEdge Advisors LLC acquired a new position in shares of Sagimet Biosciences during the first quarter worth $105,000. Trexquant Investment LP purchased a new position in Sagimet Biosciences in the 1st quarter valued at about $85,000. OMERS ADMINISTRATION Corp grew its stake in shares of Sagimet Biosciences by 46.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 85,600 shares of the company's stock valued at $279,000 after acquiring an additional 27,100 shares in the last quarter. Jasper Ridge Partners L.P. purchased a new stake in shares of Sagimet Biosciences during the first quarter worth about $62,000. Finally, American Century Companies Inc. lifted its stake in shares of Sagimet Biosciences by 93.2% in the first quarter. American Century Companies Inc. now owns 38,831 shares of the company's stock worth $127,000 after acquiring an additional 18,728 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company's stock.
About Sagimet Biosciences
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Get Free ReportSagimet Biosciences Inc, a clinical-stage biopharmaceutical company, develops therapeutics called fatty acid synthase (FASN) inhibitors for the treatment of diseases that result from dysfunctional metabolic pathways in the United States. The company's lead drug candidate is Denifanstat, a once-daily pill and selective FASN inhibitor for the treatment of metabolic dysfunction associated steatohepatitis.
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