HC Wainwright Has Optimistic Outlook of SGMT FY2030 Earnings

Sagimet Biosciences Inc. (NASDAQ:SGMT) – Equities researchers at HC Wainwright boosted their FY2030 earnings per share estimates for Sagimet Biosciences in a research report issued on Tuesday, May 12th. HC Wainwright analyst B. Folkes now anticipates that the company will earn $2.34 per share for the year, up from their previous forecast of $2.33. HC Wainwright has a “Buy” rating and a $29.00 price objective on the stock. The consensus estimate for Sagimet Biosciences’ current full-year earnings is ($1.15) per share.

Sagimet Biosciences (NASDAQ:SGMT) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.06.

A number of other analysts have also weighed in on the company. Canaccord Genuity Group raised their target price on Sagimet Biosciences from $28.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Tuesday, April 21st. Barclays started coverage on shares of Sagimet Biosciences in a report on Tuesday, January 27th. They set an “equal weight” rating and a $8.00 price objective on the stock. Guggenheim dropped their target price on shares of Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Sagimet Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sagimet Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $28.63.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $7.65 on Wednesday. The stock has a fifty day moving average price of $5.94 and a two-hundred day moving average price of $6.29. Sagimet Biosciences has a 52-week low of $3.08 and a 52-week high of $11.41. The firm has a market capitalization of $249.24 million, a P/E ratio of -4.87 and a beta of 3.60.

Hedge Funds Weigh In On Sagimet Biosciences

Several large investors have recently made changes to their positions in SGMT. Affinity Asset Advisors LLC raised its stake in shares of Sagimet Biosciences by 228.1% during the fourth quarter. Affinity Asset Advisors LLC now owns 1,148,245 shares of the company’s stock worth $6,798,000 after buying an additional 798,245 shares during the last quarter. Millennium Management LLC boosted its stake in Sagimet Biosciences by 6,484.7% in the third quarter. Millennium Management LLC now owns 776,377 shares of the company’s stock valued at $5,326,000 after acquiring an additional 788,537 shares during the last quarter. Marshall Wace LLP bought a new position in Sagimet Biosciences in the fourth quarter valued at approximately $4,620,000. Schonfeld Strategic Advisors LLC grew its holdings in Sagimet Biosciences by 462.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 523,774 shares of the company’s stock worth $3,593,000 after acquiring an additional 430,644 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in Sagimet Biosciences during the 4th quarter worth $1,802,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

About Sagimet Biosciences

Sagimet Biosciences (NASDAQ: SGMT) is a clinical-stage biotechnology company focused on developing novel therapies for fibrotic diseases. The company’s lead program, CM-101, is a first-in-class fusion protein designed to neutralize the chemokine CCL24 and interrupt key drivers of tissue fibrosis. Preclinical data have demonstrated CM-101’s potential to block fibrotic signaling pathways in multiple organ systems, and the company has advanced the program into early-stage clinical evaluation for indications such as nonalcoholic steatohepatitis and systemic sclerosis.

In addition to CM-101, Sagimet maintains a pipeline of preclinical candidates targeting inflammation-driven fibrotic processes.