Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $23.00.

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

Hedge Funds Weigh In On Sagimet Biosciences

Several institutional investors have recently modified their holdings of the company. Jacksonville Wealth Management LLC purchased a new stake in Sagimet Biosciences in the fourth quarter worth approximately $45,000. JPMorgan Chase & Co. lifted its holdings in shares of Sagimet Biosciences by 66.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock worth $199,000 after acquiring an additional 28,690 shares during the last quarter. Barclays PLC boosted its stake in shares of Sagimet Biosciences by 14.3% in the 3rd quarter. Barclays PLC now owns 57,230 shares of the company’s stock valued at $159,000 after purchasing an additional 7,178 shares in the last quarter. Geode Capital Management LLC raised its position in Sagimet Biosciences by 56.7% in the 3rd quarter. Geode Capital Management LLC now owns 252,298 shares of the company’s stock worth $699,000 after purchasing an additional 91,246 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Sagimet Biosciences during the third quarter valued at about $119,000. 87.86% of the stock is currently owned by institutional investors.

Sagimet Biosciences Stock Up 1.2 %

Shares of NASDAQ:SGMT opened at $4.20 on Friday. Sagimet Biosciences has a 12 month low of $2.39 and a 12 month high of $16.68. The company has a 50 day moving average of $4.89 and a 200 day moving average of $4.21.

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.