Sagimet Biosciences (NASDAQ:SGMT) PT Lowered to $27.00

Sagimet Biosciences (NASDAQ:SGMT) had its price target decreased by stock analysts at The Goldman Sachs Group from $37.00 to $27.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 371.20% from the stock’s current price.

SGMT has been the topic of several other research reports. JMP Securities lowered their price objective on Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 7th. SVB Leerink started coverage on Sagimet Biosciences in a research report on Monday. They issued an “outperform” rating and a $26.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $41.50.

Sagimet Biosciences Stock Performance

Sagimet Biosciences stock opened at $5.73 on Tuesday. Sagimet Biosciences has a 12 month low of $2.13 and a 12 month high of $20.71. The stock’s 50 day simple moving average is $7.51 and its two-hundred day simple moving average is $6.44.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. FMR LLC acquired a new stake in shares of Sagimet Biosciences in the 3rd quarter worth $23,517,000. Rock Springs Capital Management LP purchased a new position in Sagimet Biosciences during the 3rd quarter valued at about $6,498,000. RTW Investments LP purchased a new position in Sagimet Biosciences during the 3rd quarter valued at about $3,522,000. Platinum Investment Management Ltd. purchased a new position in shares of Sagimet Biosciences in the 3rd quarter valued at about $3,378,000. Finally, Blue Owl Capital Holdings LP purchased a new position in shares of Sagimet Biosciences in the 4th quarter valued at about $1,926,000. 87.86% of the stock is owned by institutional investors and hedge funds.

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 lipid metabolism pathways. Its lead drug candidate is Denifanstat, a FASN inhibitor for the treatment of nonalcoholic steatohepatitis and acne.