Sagimet Biosciences (NASDAQ:SGMT) Given New $29.00 Price Target at Citizens Jmp

Key Points

• Citizens JMP raised Sagimet Biosciences’ price target to $29 from $12 while maintaining a “market outperform” rating, implying 212.5% upside from the reported $9.28 share price.
• Analyst sentiment is broadly positive, with seven Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a $29.17 target price.
• Sagimet reported a quarterly loss of $0.26 per share, slightly worse than the $0.25 consensus estimate. Insiders sold 113,646 shares worth about $920,491 over the past three months, while institutional investors own 87.86% of the stock.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) had its price target hoisted by stock analysts at Citizens Jmp from $12.00 to $29.00 in a report released on Friday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price target suggests a potential upside of 212.50% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Guggenheim reduced their price objective on Sagimet Biosciences from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sagimet Biosciences in a research report on Friday, July 17th. Canaccord Genuity Group lifted their price target on shares of Sagimet Biosciences from $49.00 to $56.00 and gave the company a "buy" rating in a research report on Wednesday. Oppenheimer restated an "outperform" rating on shares of Sagimet Biosciences in a research note on Friday, May 1st. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Sagimet Biosciences in a research note on Friday. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Sagimet Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

Sagimet Biosciences Trading Down 1.2%

Shares of NASDAQ SGMT opened at $9.28 on Friday. The firm's 50-day moving average price is $7.44 and its 200-day moving average price is $6.54. Sagimet Biosciences has a 1-year low of $4.50 and a 1-year high of $10.01. The firm has a market capitalization of $302.34 million, a P/E ratio of -7.25 and a beta of 3.37.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Equities research analysts forecast that Sagimet Biosciences will post -1.17 EPS for the current year.

Insider Activity

In related news, Director George Kemble sold 20,206 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $9.95, for a total transaction of $201,049.70. Following the sale, the director owned 62,161 shares of the company's stock, valued at approximately $618,501.95. This represents a 24.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Happel sold 64,051 shares of the firm's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $7.76, for a total value of $497,035.76. Following the completion of the transaction, the chief executive officer owned 741,570 shares of the company's stock, valued at approximately $5,754,583.20. This represents a 7.95% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 113,646 shares of company stock worth $920,491. 11.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sagimet Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Affinity Asset Advisors LLC grew its stake in Sagimet Biosciences by 228.1% during the fourth quarter. Affinity Asset Advisors LLC now owns 1,148,245 shares of the company's stock valued at $6,798,000 after acquiring an additional 798,245 shares in the last quarter. Millennium Management LLC lifted its stake in Sagimet Biosciences by 6,484.7% in the 3rd quarter. Millennium Management LLC now owns 776,377 shares of the company's stock worth $5,326,000 after purchasing an additional 788,537 shares in the last quarter. Marshall Wace LLP purchased a new stake in Sagimet Biosciences in the 4th quarter worth approximately $4,620,000. Schonfeld Strategic Advisors LLC boosted its holdings in Sagimet Biosciences by 462.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 523,774 shares of the company's stock valued at $3,593,000 after purchasing an additional 430,644 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in Sagimet Biosciences in the 4th quarter valued at $1,802,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

More Sagimet Biosciences News

Here are the key news stories impacting Sagimet Biosciences this week:

• Positive Sentiment: FDA clears Phase 3 acne trial: The FDA cleared Sagimet’s Investigational New Drug application and issued a “Study May Proceed” letter for a U.S. Phase 3 trial of denifanstat, an oral, once-daily fatty acid synthase inhibitor for moderate to severe acne. The trial is expected to begin in the second half of 2026 and enroll approximately 800 patients, including about 450 adolescents. The clearance removes a key regulatory obstacle and gives investors a clearer development timeline. Sagimet FDA Phase 3 trial announcement
• Positive Sentiment: Analyst raises price target: Canaccord Genuity maintained a “buy” rating and lifted its price target from $49 to $56, reflecting a highly bullish view of Sagimet’s clinical pipeline and potential commercial opportunity. Other analysts also maintain generally favorable ratings, supporting positive investor sentiment. Canaccord price target report
• Neutral Sentiment: Important execution risks remain: Denifanstat’s U.S. Phase 3 program depends partly on encouraging results from trials conducted by licensing partner Ascletis in China. Sagimet must still demonstrate efficacy and safety in U.S. patients, complete the trial and secure regulatory approval before generating potential product revenue.
• Negative Sentiment: Loss estimates revised lower: HC Wainwright reduced its fourth-quarter 2026 EPS forecast to a loss of $0.32 from $0.30. Sagimet also recently reported a quarterly loss of $0.26 per share, slightly worse than the $0.25 consensus estimate, underscoring its continued dependence on financing while clinical programs advance.
• Negative Sentiment: Director sells shares: Director George Kemble sold 20,206 shares for approximately $201,050, reducing his direct ownership by 24.5%. Although insider sales can be routine, the transaction may weigh on sentiment because it represents reduced personal exposure by a company director. George Kemble insider sale report

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.

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