Sagimet Biosciences (NASDAQ:SGMT) Stock Price Expected to Rise, Jones Trading Analyst Says

Sagimet Biosciences (NASDAQ:SGMT - Free Report) had its target price increased by Jones Trading from $15.00 to $27.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, HC Wainwright restated a "buy" rating and set a $32.00 price target on shares of Sagimet Biosciences in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.17.

Sagimet Biosciences Trading Down 4.1%

NASDAQ SGMT traded down $0.23 during trading on Friday, hitting $5.33. 1,421,495 shares of the company's stock were exchanged, compared to its average volume of 969,092. The company has a market cap of $163.50 million, a PE ratio of -3.03 and a beta of 2.21. Sagimet Biosciences has a fifty-two week low of $1.73 and a fifty-two week high of $7.38. The stock's 50 day moving average price is $3.12 and its two-hundred day moving average price is $3.97.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.23. Analysts forecast that Sagimet Biosciences will post -1.6 earnings per share for the current fiscal year.

Institutional Trading of Sagimet Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN bought a new stake in Sagimet Biosciences in the fourth quarter valued at approximately $31,000. Persistent Asset Partners Ltd bought a new position in shares of Sagimet Biosciences during the 1st quarter worth approximately $35,000. XTX Topco Ltd bought a new position in shares of Sagimet Biosciences during the 1st quarter worth approximately $35,000. Charles Schwab Investment Management Inc. bought a new position in shares of Sagimet Biosciences during the 1st quarter worth approximately $49,000. Finally, Summit Financial Wealth Advisors LLC bought a new position in shares of Sagimet Biosciences during the 4th quarter worth approximately $61,000. 87.86% of the stock is currently owned by institutional investors.

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.