Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $24.00.

A number of equities research analysts recently issued reports on SGMT shares. HC Wainwright reissued a “buy” rating and set a $32.00 price target on shares of Sagimet Biosciences in a research report on Thursday, October 31st. JMP Securities reduced their target price on Sagimet Biosciences from $48.00 to $32.00 and set a “market outperform” rating on the stock in a report on Thursday, August 15th. Finally, UBS Group began coverage on Sagimet Biosciences in a research note on Tuesday. They issued a “buy” rating and a $12.00 price target for the company.

Sagimet Biosciences Trading Down 1.5 %

SGMT stock opened at $5.85 on Tuesday. Sagimet Biosciences has a fifty-two week low of $2.13 and a fifty-two week high of $20.71. The business’s fifty day moving average price is $4.31 and its two-hundred day moving average price is $3.97.

Sagimet Biosciences (NASDAQ:SGMT) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.09. Equities analysts predict that Sagimet Biosciences will post -1.56 EPS for the current fiscal year.

Institutional Trading of Sagimet Biosciences

Large investors have recently bought and sold shares of the business. ORG Partners LLC acquired a new position in Sagimet Biosciences during the second quarter worth about $43,000. Nations Financial Group Inc. IA ADV acquired a new position in Sagimet Biosciences during the 2nd quarter worth approximately $51,000. American International Group Inc. increased its position in Sagimet Biosciences by 312.0% during the 1st quarter. American International Group Inc. now owns 11,372 shares of the company’s stock worth $62,000 after purchasing an additional 8,612 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in Sagimet Biosciences in the 1st quarter valued at approximately $72,000. Finally, Ground Swell Capital LLC acquired a new stake in Sagimet Biosciences in the second quarter valued at approximately $78,000. 87.86% of the stock is owned by institutional investors and hedge funds.

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.