Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives $41.50 Average Target Price from Analysts

Sagimet Biosciences Inc. (NASDAQ:SGMTGet Free Report) has earned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $41.50.

A number of equities analysts recently weighed in on SGMT shares. JMP Securities decreased their price target on Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating for the company in a research report on Wednesday, February 7th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Sagimet Biosciences in a report on Monday, March 25th. SVB Leerink started coverage on Sagimet Biosciences in a report on Monday, March 25th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their price target 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.

Get Our Latest Report on SGMT

Sagimet Biosciences Price Performance

NASDAQ:SGMT opened at $5.42 on Wednesday. Sagimet Biosciences has a 1 year low of $2.13 and a 1 year high of $20.71. The business has a fifty day moving average of $7.46 and a 200-day moving average of $6.31.

Insider Buying and Selling at Sagimet Biosciences

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SGMT. FMR LLC acquired a new stake in shares of Sagimet Biosciences in the 3rd quarter valued at about $23,517,000. Rock Springs Capital Management LP acquired a new stake in shares of Sagimet Biosciences in the 3rd quarter valued at about $6,498,000. RTW Investments LP acquired a new stake in shares of Sagimet Biosciences in the 3rd quarter valued at about $3,522,000. Platinum Investment Management Ltd. acquired a new stake in shares of Sagimet Biosciences in the 3rd quarter valued at about $3,378,000. Finally, Blue Owl Capital Holdings LP acquired a new position in Sagimet Biosciences during the 4th quarter valued at about $1,926,000. 87.86% of the stock is owned by institutional investors.

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.

Further Reading

Analyst Recommendations for Sagimet Biosciences (NASDAQ:SGMT)

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