Sagimet Biosciences (NASDAQ:SGMT) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their buy rating on shares of Sagimet Biosciences (NASDAQ:SGMT) in a report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $32.00 target price on the stock.

Several other research analysts have also weighed in on SGMT. JMP Securities reduced their price objective on shares of Sagimet Biosciences from $48.00 to $32.00 and set a market outperform rating on the stock in a research note on Thursday, August 15th. The Goldman Sachs Group reissued a neutral rating and set a $6.00 price target (down from $23.00) on shares of Sagimet Biosciences in a research report on Friday, June 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $24.00.

Sagimet Biosciences Trading Down 0.7 %

Shares of Sagimet Biosciences stock opened at $4.09 on Wednesday. Sagimet Biosciences has a 52 week low of $2.13 and a 52 week high of $20.71. The firm has a fifty day moving average of $3.08 and a two-hundred day moving average of $3.90.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.09. Sell-side analysts predict that Sagimet Biosciences will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Sagimet Biosciences

In other news, Chairman George Kemble sold 14,062 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $3.10, for a total transaction of $43,592.20. Following the completion of the sale, the chairman now owns 142,318 shares of the company’s stock, valued at $441,185.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman George Kemble sold 14,062 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $3.10, for a total value of $43,592.20. Following the sale, the chairman now directly owns 142,318 shares in the company, valued at $441,185.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eduardo Bruno Martins sold 8,357 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $3.10, for a total value of $25,906.70. Following the transaction, the insider now owns 81,213 shares of the company’s stock, valued at approximately $251,760.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,958 shares of company stock valued at $178,224. 17.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Sagimet Biosciences

A number of institutional investors have recently made changes to their positions in the business. American International Group Inc. lifted 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 buying an additional 8,612 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Sagimet Biosciences during the first quarter worth about $72,000. ORG Partners LLC bought a new stake in Sagimet Biosciences during the second quarter worth about $43,000. Nations Financial Group Inc. IA ADV bought a new stake in Sagimet Biosciences during the second quarter worth about $51,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Sagimet Biosciences during the first quarter valued at approximately $91,000. Institutional investors own 87.86% of the company’s stock.

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.