Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $25.6667.
A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group reissued a "buy" rating and set a $28.00 price target on shares of Sagimet Biosciences in a research note on Thursday, October 2nd. Wedbush assumed coverage on Sagimet Biosciences in a research note on Monday, August 11th. They set an "outperform" rating and a $28.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Sagimet Biosciences in a research note on Wednesday. HC Wainwright raised Sagimet Biosciences to a "buy" rating and set a $29.00 price target for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Sagimet Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, September 21st.
View Our Latest Report on Sagimet Biosciences
Insider Buying and Selling at Sagimet Biosciences
In other Sagimet Biosciences news, CEO David Happel sold 65,478 shares of Sagimet Biosciences stock in a transaction on Monday, July 21st. The stock was sold at an average price of $9.13, for a total transaction of $597,814.14. Following the completion of the sale, the chief executive officer directly owned 689,722 shares of the company's stock, valued at $6,297,161.86. The trade was a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eduardo Bruno Martins sold 8,277 shares of Sagimet Biosciences stock in a transaction on Monday, July 21st. The shares were sold at an average price of $9.13, for a total value of $75,569.01. Following the sale, the insider directly owned 106,936 shares of the company's stock, valued at approximately $976,325.68. This trade represents a 7.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,535 shares of company stock valued at $771,805 in the last ninety days. Corporate insiders own 14.70% of the company's stock.
Institutional Investors Weigh In On Sagimet Biosciences
Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in Sagimet Biosciences during the 1st quarter valued at $35,000. Persistent Asset Partners Ltd purchased a new position in shares of Sagimet Biosciences in the 1st quarter valued at $35,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Sagimet Biosciences in the 2nd quarter valued at $41,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Sagimet Biosciences in the 1st quarter valued at $49,000. Finally, Jasper Ridge Partners L.P. purchased a new position in shares of Sagimet Biosciences in the 1st quarter valued at $62,000. 87.86% of the stock is owned by institutional investors.
Sagimet Biosciences Stock Performance
Shares of SGMT stock opened at $7.31 on Thursday. Sagimet Biosciences has a 52-week low of $1.73 and a 52-week high of $11.41. The firm has a market capitalization of $237.72 million, a P/E ratio of -3.99 and a beta of 3.23. The stock has a 50 day moving average price of $7.49 and a 200 day moving average price of $6.06.
Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.20. As a group, sell-side analysts forecast that Sagimet Biosciences will post -1.6 EPS for the current year.
About Sagimet Biosciences
(
Get Free Report)
Sagimet 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.
Further Reading
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