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

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) have received an average rating of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.17.

Several research analysts have recently commented on the company. HC Wainwright reiterated a "buy" rating and set a $32.00 price target on shares of Sagimet Biosciences in a report on Tuesday, March 11th. Jones Trading raised their target price on shares of Sagimet Biosciences from $15.00 to $27.00 and gave the company a "buy" rating in a report on Friday.

Hedge Funds Weigh In On Sagimet Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of SGMT. NewEdge Advisors LLC bought a new stake in shares of Sagimet Biosciences in the 1st quarter valued at approximately $105,000. Trexquant Investment LP purchased a new stake in shares of Sagimet Biosciences during the first quarter valued at $85,000. OMERS ADMINISTRATION Corp lifted its holdings 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 purchasing an additional 27,100 shares during the last quarter. Jasper Ridge Partners L.P. purchased a new stake in Sagimet Biosciences in the 1st quarter worth about $62,000. Finally, American Century Companies Inc. raised its stake in shares of Sagimet Biosciences by 93.2% during the 1st quarter. American Century Companies Inc. now owns 38,831 shares of the company's stock worth $127,000 after purchasing an additional 18,728 shares in the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock traded down $0.23 during midday trading on Friday, reaching $5.33. The company's stock had a trading volume of 1,421,495 shares, compared to its average volume of 969,092. The stock has a market capitalization of $163.50 million, a P/E ratio of -3.03 and a beta of 2.21. The stock's 50-day simple moving average is $3.12 and its 200-day simple moving average is $3.97. Sagimet Biosciences has a 52-week low of $1.73 and a 52-week high of $7.38.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.56) EPS for the quarter, topping analysts' consensus estimates of ($0.79) by $0.23. As a group, equities research analysts expect that Sagimet Biosciences will post -1.6 earnings per share for the current fiscal year.

About Sagimet Biosciences

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.