Wall Street Zen Upgrades Sagimet Biosciences (NASDAQ:SGMT) to Hold

by · The Markets Daily

Sagimet Biosciences (NASDAQ:SGMT – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts also recently commented on SGMT. HC Wainwright reiterated a “buy” rating and issued a $29.00 target price on shares of Sagimet Biosciences in a report on Wednesday, March 11th. Citizens Jmp raised their target price on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday, November 14th. Guggenheim assumed coverage on shares of Sagimet Biosciences in a research report on Tuesday, February 3rd. They issued a “buy” rating and a $27.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Thursday, January 22nd. Finally, Barclays began coverage on Sagimet Biosciences in a research report on Tuesday, January 27th. They set an “equal weight” rating and a $8.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sagimet Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Check Out Our Latest Report on SGMT

Sagimet Biosciences Stock Down 2.4%

NASDAQ:SGMT opened at $5.21 on Friday. The business’s 50-day moving average price is $5.73 and its 200 day moving average price is $6.61. The firm has a market cap of $169.43 million, a P/E ratio of -3.32 and a beta of 3.35. Sagimet Biosciences has a 52-week low of $1.73 and a 52-week high of $11.41.

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

Insider Buying and Selling at Sagimet Biosciences

In related news, CEO David Happel sold 12,101 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total transaction of $64,861.36. Following the completion of the sale, the chief executive officer directly owned 677,621 shares in the company, valued at approximately $3,632,048.56. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Sagimet Biosciences by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,203,231 shares of the company’s stock worth $8,254,000 after purchasing an additional 49,375 shares during the last quarter. Affinity Asset Advisors LLC raised its stake in shares of Sagimet Biosciences by 228.1% during the 4th quarter. Affinity Asset Advisors LLC now owns 1,148,245 shares of the company’s stock worth $6,798,000 after purchasing an additional 798,245 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Sagimet Biosciences during the 4th quarter valued at about $4,620,000. Millennium Management LLC grew its stake in shares of Sagimet Biosciences by 6,484.7% in the 3rd quarter. Millennium Management LLC now owns 776,377 shares of the company’s stock valued at $5,326,000 after buying an additional 788,537 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of 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 buying an additional 430,644 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

About Sagimet Biosciences

(Get Free Report)

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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