Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.17.

SGMT has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of Sagimet Biosciences in a report on Tuesday, March 11th. Jones Trading increased their target price on shares of Sagimet Biosciences from $15.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday.

Institutional Trading of Sagimet Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN bought a new stake in shares of Sagimet Biosciences during the fourth quarter valued at about $31,000. Persistent Asset Partners Ltd bought a new position in shares of Sagimet Biosciences in the first quarter valued at approximately $35,000. XTX Topco Ltd purchased a new position in Sagimet Biosciences during the first quarter valued at approximately $35,000. Charles Schwab Investment Management Inc. bought a new stake in Sagimet Biosciences during the 1st quarter worth approximately $49,000. Finally, Summit Financial Wealth Advisors LLC bought a new stake in Sagimet Biosciences during the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 87.86% of the company's stock.

Sagimet Biosciences Trading Up 15.0%

Shares of NASDAQ:SGMT traded up $0.72 during mid-day trading on Friday, reaching $5.50. The company had a trading volume of 2,794,742 shares, compared to its average volume of 963,382. Sagimet Biosciences has a one year low of $1.73 and a one year high of $7.38. The company's 50-day moving average price is $3.00 and its 200-day moving average price is $3.97. The firm has a market cap of $168.68 million, a price-to-earnings ratio of -3.16 and a beta of 2.32.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.79) by $0.23. On average, research analysts anticipate that Sagimet Biosciences will post -1.6 EPS for the current fiscal year.

Sagimet Biosciences Company Profile

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.

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