Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $23.00.

Several research firms have recently issued reports on SGMT. Oppenheimer assumed coverage on shares of Sagimet Biosciences in a research note on Friday, December 6th. They issued an “outperform” rating and a $30.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Sagimet Biosciences in a report on Friday, November 15th. Finally, UBS Group started coverage on shares of Sagimet Biosciences in a report on Tuesday, November 12th. They set a “buy” rating and a $12.00 price target on the stock.

Institutional Trading of Sagimet Biosciences

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in shares of Sagimet Biosciences by 14.3% during the third quarter. Barclays PLC now owns 57,230 shares of the company’s stock valued at $159,000 after purchasing an additional 7,178 shares during the last quarter. ORG Partners LLC purchased a new stake in Sagimet Biosciences during the 2nd quarter valued at $43,000. Federated Hermes Inc. lifted its holdings in shares of Sagimet Biosciences by 25.9% during 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. Nations Financial Group Inc. IA ADV purchased a new position in shares of Sagimet Biosciences in the 2nd quarter worth $51,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Sagimet Biosciences during the first quarter valued at $91,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Sagimet Biosciences Trading Down 3.3 %

Shares of NASDAQ:SGMT opened at $4.39 on Friday. The stock has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $4.07. Sagimet Biosciences has a 12-month low of $2.39 and a 12-month high of $20.71.

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.