HC Wainwright reissued their buy rating on shares of Sagimet Biosciences (NASDAQ:SGMT - Free Report) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $32.00 price objective on the stock.
Separately, JMP Securities cut their target price on Sagimet Biosciences from $48.00 to $32.00 and set a "market outperform" rating for the company in a research report on Thursday, August 15th. One 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.
Check Out Our Latest Research Report on SGMT
Sagimet Biosciences Stock Performance
Shares of NASDAQ SGMT traded down $0.19 during mid-day trading on Thursday, reaching $5.15. 859,952 shares of the company traded hands, compared to its average volume of 1,129,726. The company's fifty day moving average is $3.88 and its two-hundred day moving average is $3.89. Sagimet Biosciences has a fifty-two week low of $2.13 and a fifty-two week high of $20.71.
Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.09. As a group, equities research analysts expect that Sagimet Biosciences will post -1.56 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sagimet Biosciences
Several hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. increased its holdings in 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 stake in shares of Sagimet Biosciences in the 1st quarter valued at $72,000. ORG Partners LLC acquired a new stake in shares of Sagimet Biosciences in the 2nd quarter valued at $43,000. Federated Hermes Inc. increased its stake in shares of Sagimet Biosciences by 25.9% in the 2nd quarter. Federated Hermes Inc. now owns 68,000 shares of the company's stock valued at $233,000 after buying an additional 14,000 shares during the period. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in shares of Sagimet Biosciences in the 2nd quarter valued at $51,000. Institutional investors own 87.86% of the company's stock.
About Sagimet Biosciences
(
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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.
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