UBS Group Begins Coverage on Sagimet Biosciences (NASDAQ:SGMT)

Stock analysts at UBS Group began coverage on shares of Sagimet Biosciences (NASDAQ:SGMT) in a report released on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $12.00 price target on the stock. UBS Group’s price target indicates a potential upside of 99.34% from the stock’s previous close.

A number of other research firms have also recently commented on SGMT. JMP Securities decreased their price target on 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. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Sagimet Biosciences in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sagimet Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Sagimet Biosciences Stock Up 1.3 %

NASDAQ SGMT opened at $6.02 on Tuesday. The firm’s 50-day moving average is $4.43 and its two-hundred day moving average is $4.00. Sagimet Biosciences has a 12 month low of $2.25 and a 12 month high of $20.71.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.09. On average, equities analysts anticipate that Sagimet Biosciences will post -1.56 EPS for the current year.

Institutional Trading of Sagimet Biosciences

A number of large investors have recently modified their holdings of the stock. ORG Partners LLC purchased a new position in Sagimet Biosciences in the second quarter valued at $43,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Sagimet Biosciences in the 2nd quarter valued at about $51,000. American International Group Inc. boosted its stake in shares of Sagimet Biosciences by 312.0% in the 1st quarter. American International Group Inc. now owns 11,372 shares of the company’s stock valued at $62,000 after buying an additional 8,612 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Sagimet Biosciences during the first quarter worth about $72,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Sagimet Biosciences during the second quarter worth approximately $78,000. Hedge funds and other 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.