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

Sagimet Biosciences Inc. (NASDAQ:SGMT) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $23.00.

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

Institutional Investors Weigh In On Sagimet Biosciences

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Sagimet Biosciences by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 255,236 shares of the company’s stock worth $1,149,000 after buying an additional 2,938 shares in the last quarter. Stoneridge Investment Partners LLC raised its holdings in Sagimet Biosciences by 22.2% during the fourth quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company’s stock worth $94,000 after purchasing an additional 3,780 shares in the last quarter. Wells Fargo & Company MN acquired a new stake in Sagimet Biosciences in the fourth quarter worth approximately $31,000. Barclays PLC lifted its position in Sagimet Biosciences by 14.3% in the third quarter. Barclays PLC now owns 57,230 shares of the company’s stock worth $159,000 after purchasing an additional 7,178 shares during the period. Finally, Jacksonville Wealth Management LLC bought a new position in Sagimet Biosciences during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Sagimet Biosciences Trading Up 1.0 %

Shares of Sagimet Biosciences stock opened at $4.10 on Thursday. Sagimet Biosciences has a twelve month low of $2.39 and a twelve month high of $8.07. The business’s 50 day simple moving average is $4.71 and its 200-day simple moving average is $4.35.

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.