Sagimet Biosciences (NASDAQ:SGMT) Coverage Initiated by Analysts at Wedbush

Key Points

• Wedbush has initiated coverage on Sagimet Biosciences (NASDAQ:SGMT) with an "outperform" rating and a price target of $28.00, indicating a potential upside of 220.73% from its previous close.
• Sagimet Biosciences has received several other positive ratings from analysts, with a consensus target price of $26.57 after seven analysts rated the stock as a buy.
• The company is developing therapeutics targeting metabolic diseases, with its lead candidate being Denifanstat, a selective FASN inhibitor.

Stock analysts at Wedbush assumed coverage on shares of Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) in a note issued to investors on Monday, Marketbeat reports. The firm set an "outperform" rating and a $28.00 price target on the stock. Wedbush's target price indicates a potential upside of 256.92% from the stock's previous close. Wedbush also issued estimates for Sagimet Biosciences' Q2 2025 earnings at ($0.56) EPS, Q3 2025 earnings at ($0.59) EPS, Q4 2025 earnings at ($0.52) EPS, FY2025 earnings at ($2.23) EPS, FY2026 earnings at ($2.34) EPS, FY2027 earnings at ($2.35) EPS, FY2028 earnings at ($2.19) EPS and FY2029 earnings at ($2.01) EPS.

SGMT has been the topic of several other research reports. Jones Trading raised their price objective on Sagimet Biosciences from $15.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Canaccord Genuity Group assumed coverage on Sagimet Biosciences in a report on Thursday, July 24th. They issued a "buy" rating and a $28.00 target price on the stock. Finally, HC Wainwright upgraded Sagimet Biosciences to a "buy" rating and set a $29.00 target price on the stock in a report on Thursday, August 7th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Sagimet Biosciences currently has a consensus rating of "Buy" and an average target price of $26.57.

Sagimet Biosciences Stock Down 9.5%

SGMT traded down $0.83 on Monday, hitting $7.85. 705,151 shares of the company traded hands, compared to its average volume of 1,100,839. Sagimet Biosciences has a 12-month low of $1.73 and a 12-month high of $11.41. The company has a 50 day moving average of $8.59 and a 200-day moving average of $5.24. The stock has a market capitalization of $240.61 million, a PE ratio of -4.29 and a beta of 3.37.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.20. On average, research analysts anticipate that Sagimet Biosciences will post -1.6 EPS for the current year.

Insider Buying and Selling at Sagimet Biosciences

In other Sagimet Biosciences news, insider Eduardo Bruno Martins sold 8,277 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $9.13, for a total transaction of $75,569.01. Following the sale, the insider directly owned 106,936 shares of the company's stock, valued at approximately $976,325.68. This represents a 7.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Elizabeth Rozek sold 10,780 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $9.13, for a total transaction of $98,421.40. Following the sale, the general counsel directly owned 183,726 shares in the company, valued at $1,677,418.38. This trade represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,535 shares of company stock worth $771,805 over the last ninety days. Company insiders own 14.70% of the company's stock.

Hedge Funds Weigh In On Sagimet Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in Sagimet Biosciences by 9,168.2% in the second quarter. BNP Paribas Financial Markets now owns 26,785 shares of the company's stock worth $204,000 after purchasing an additional 26,496 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Sagimet Biosciences by 231.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 412,841 shares of the company's stock worth $3,146,000 after buying an additional 288,341 shares during the period. Bank of America Corp DE raised its position in shares of Sagimet Biosciences by 81.8% in the 2nd quarter. Bank of America Corp DE now owns 9,943 shares of the company's stock valued at $76,000 after buying an additional 4,473 shares in the last quarter. Jump Financial LLC bought a new stake in Sagimet Biosciences during the 2nd quarter worth approximately $1,130,000. Finally, XTX Topco Ltd boosted its stake in shares of Sagimet Biosciences by 137.0% in the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company's stock valued at $195,000 after purchasing an additional 14,813 shares during the last quarter. 87.86% of the stock is 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.