Sagimet Biosciences (NASDAQ:SGMT) Now Covered by Rodman & Renshaw

Key Points

• Rodman & Renshaw initiated coverage with a Buy rating and a $28 price target; the analyst consensus is a Moderate Buy (8 Buys, 2 Holds, 1 Sell) with an average target of $26.25.
• Sagimet shares trade around $4.59 with a market cap of $149.5 million and a negative PE, and the stock has a 12‑month range of $1.73–$11.41, highlighting volatility typical of clinical‑stage biotechs.
• CEO David Happel sold 12,101 shares at an average price of $5.36 (a 1.75% reduction in his stake); insiders own 14.70% of the stock while institutional investors and hedge funds hold about 87.86%.

Equities research analysts at Rodman & Renshaw initiated coverage on shares of Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) in a note issued to investors on Thursday. The firm set a "buy" rating and a $28.00 price target on the stock.

Other analysts have also recently issued research reports about the company. Wall Street Zen raised Sagimet Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. HC Wainwright restated a "buy" rating and issued a $29.00 price objective on shares of Sagimet Biosciences in a research note on Wednesday, March 11th. Guggenheim initiated coverage on Sagimet Biosciences in a report on Tuesday, February 3rd. They set a "buy" rating and a $27.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Sagimet Biosciences in a report on Thursday, January 22nd. Finally, Barclays started coverage on shares of Sagimet Biosciences in a research report on Tuesday, January 27th. They set an "equal weight" rating and a $8.00 price target for the company. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.25.

Sagimet Biosciences Trading Down 0.6%

NASDAQ:SGMT opened at $4.59 on Thursday. Sagimet Biosciences has a twelve month low of $1.73 and a twelve month high of $11.41. The company has a market cap of $149.54 million, a PE ratio of -2.92 and a beta of 3.35. The company's 50 day moving average is $5.57 and its two-hundred day moving average is $6.48.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.14. As a group, analysts expect that Sagimet Biosciences will post -1.6 EPS for the current fiscal year.

Insider Activity

In other news, CEO David Happel sold 12,101 shares of the company's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total value of $64,861.36. Following the sale, the chief executive officer owned 677,621 shares in the company, valued at $3,632,048.56. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SGMT. Royal Bank of Canada boosted its position in Sagimet Biosciences by 819.2% in the 4th quarter. Royal Bank of Canada now owns 4,927 shares of the company's stock worth $29,000 after purchasing an additional 4,391 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Sagimet Biosciences in the 4th quarter valued at $30,000. Wedmont Private Capital purchased a new stake in Sagimet Biosciences during the fourth quarter worth $60,000. Virtu Financial LLC acquired a new stake in Sagimet Biosciences during the fourth quarter valued at $62,000. Finally, Hamilton Lane Advisors LLC purchased a new position in Sagimet Biosciences in the fourth quarter valued at $66,000. 87.86% of the stock is owned by institutional investors and hedge funds.

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.

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