Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Average Recommendation of “Buy” by Analysts

Sagimet Biosciences Inc. (NASDAQ:SGMTGet Free Report) has been assigned a consensus recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $41.50.

Several research analysts have weighed in on the company. JMP Securities cut their price objective on Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 7th. The Goldman Sachs Group decreased their target price on Sagimet Biosciences from $37.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. SVB Leerink began coverage on Sagimet Biosciences in a research note on Monday, March 25th. They issued an “outperform” rating and a $26.00 target price on the stock. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Sagimet Biosciences in a research report on Monday, March 25th.

View Our Latest Stock Analysis on SGMT

Insider Buying and Selling at Sagimet Biosciences

In other news, CEO David Happel acquired 12,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average price of $5.27 per share, with a total value of $63,767.00. Following the completion of the purchase, the chief executive officer now directly owns 639,200 shares in the company, valued at $3,368,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Sagimet Biosciences

Several hedge funds have recently modified their holdings of SGMT. Platinum Investment Management Ltd. acquired a new stake in shares of Sagimet Biosciences during the 3rd quarter worth approximately $3,378,000. Silverarc Capital Management LLC purchased a new position in Sagimet Biosciences in the 3rd quarter valued at $880,000. RTW Investments LP acquired a new stake in shares of Sagimet Biosciences in the 3rd quarter worth $3,522,000. Federated Hermes Inc. acquired a new stake in shares of Sagimet Biosciences in the 3rd quarter worth $686,000. Finally, Rock Springs Capital Management LP acquired a new stake in shares of Sagimet Biosciences in the 3rd quarter worth $6,498,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

Sagimet Biosciences Price Performance

Shares of SGMT stock opened at $5.42 on Wednesday. The business’s 50-day moving average price is $7.46 and its 200-day moving average price is $6.31. Sagimet Biosciences has a 12 month low of $2.13 and a 12 month high of $20.71.

Sagimet Biosciences Company Profile

(Get Free Report

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 lipid metabolism pathways. Its lead drug candidate is Denifanstat, a FASN inhibitor for the treatment of nonalcoholic steatohepatitis and acne.

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Analyst Recommendations for Sagimet Biosciences (NASDAQ:SGMT)

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