Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Average Recommendation of "Moderate Buy" by Brokerages

Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $23.00.

Several equities analysts have commented on SGMT shares. UBS Group began coverage on shares of Sagimet Biosciences in a research note on Tuesday, November 12th. They set a "buy" rating and a $12.00 target price on the stock. Oppenheimer assumed coverage on shares of Sagimet Biosciences in a report on Friday, December 6th. They issued an "outperform" rating and a $30.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and set a $32.00 price target on shares of Sagimet Biosciences in a research report on Friday, November 15th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Jacksonville Wealth Management LLC acquired a new stake in Sagimet Biosciences during the 4th quarter worth $45,000. Stoneridge Investment Partners LLC increased its position in shares of Sagimet Biosciences by 22.2% during the 4th quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company's stock worth $94,000 after purchasing an additional 3,780 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Sagimet Biosciences during the third quarter worth $119,000. Barclays PLC increased its stake in shares of Sagimet Biosciences by 14.3% during the 3rd quarter. Barclays PLC now owns 57,230 shares of the company's stock worth $159,000 after purchasing an additional 7,178 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Sagimet Biosciences by 66.2% in the third quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company's stock valued at $199,000 after buying an additional 28,690 shares during the period. Institutional investors own 87.86% of the company's stock.

Sagimet Biosciences Price Performance

NASDAQ SGMT traded up $0.34 during trading hours on Friday, hitting $4.40. The company had a trading volume of 1,390,416 shares, compared to its average volume of 1,427,976. Sagimet Biosciences has a fifty-two week low of $2.39 and a fifty-two week high of $11.12. The business has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $4.24.

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.