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

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $23.00.

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

Sagimet Biosciences Trading Up 1.0 %

NASDAQ SGMT opened at $4.10 on Thursday. Sagimet Biosciences has a 12 month low of $2.39 and a 12 month high of $8.07. The company’s 50 day simple moving average is $4.71 and its 200 day simple moving average is $4.35.

Institutional Trading of Sagimet Biosciences

Several large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its position in shares of Sagimet Biosciences by 72.4% in the fourth quarter. Squarepoint Ops LLC now owns 50,484 shares of the company’s stock worth $227,000 after buying an additional 21,195 shares during the period. Shay Capital LLC acquired a new stake in Sagimet Biosciences during the 4th quarter worth about $87,000. OMERS ADMINISTRATION Corp purchased a new position in Sagimet Biosciences during the 4th quarter valued at about $263,000. Millennium Management LLC grew its stake in Sagimet Biosciences by 257.1% during the 4th quarter. Millennium Management LLC now owns 693,247 shares of the company’s stock valued at $3,120,000 after acquiring an additional 499,094 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Sagimet Biosciences by 62.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 224,100 shares of the company’s stock valued at $1,008,000 after purchasing an additional 85,800 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

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.