Sagimet Biosciences (NASDAQ:SGMT) Rating Reiterated by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Sagimet Biosciences (NASDAQ:SGMT) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $32.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group reiterated a neutral rating and set a $6.00 target price (down from $23.00) on shares of Sagimet Biosciences in a research report on Friday, June 28th. JMP Securities reduced their price objective 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sagimet Biosciences presently has an average rating of Moderate Buy and a consensus price target of $24.00.

Sagimet Biosciences Trading Down 0.7 %

Shares of SGMT opened at $4.09 on Wednesday. The stock has a fifty day moving average price of $3.07 and a two-hundred day moving average price of $3.89. Sagimet Biosciences has a 52-week low of $2.13 and a 52-week high of $20.71.

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

Insider Activity

In related news, Chairman George Kemble sold 14,062 shares of the business’s stock in a transaction that occurred 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 directly owns 142,318 shares of the company’s stock, valued at $441,185.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman George Kemble sold 14,062 shares of the company’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 completion of the sale, the chairman now owns 142,318 shares in the company, valued at approximately $441,185.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eduardo Bruno Martins sold 8,357 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $3.10, for a total value of $25,906.70. Following the completion of the transaction, the insider now directly owns 81,213 shares in the company, valued at $251,760.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In 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 insiders.

Institutional Inflows and Outflows

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

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.