Sagimet Biosciences (NASDAQ:SGMT) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Sagimet Biosciences (NASDAQ:SGMT) in a report issued on Tuesday, Marketbeat reports. The firm issued a buy rating and a $12.00 price objective on the stock.

SGMT has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Sagimet Biosciences in a report on Thursday, October 31st. JMP Securities cut their price target on Sagimet Biosciences from $48.00 to $32.00 and set a “market outperform” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Sagimet Biosciences Price Performance

Shares of NASDAQ:SGMT opened at $5.00 on Tuesday. Sagimet Biosciences has a 1 year low of $2.25 and a 1 year high of $20.71. The business’s 50 day simple moving average is $4.48 and its 200 day simple moving average is $4.01.

Sagimet Biosciences (NASDAQ:SGMT) last posted its earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.09. On average, equities analysts predict that Sagimet Biosciences will post -1.56 EPS for the current year.

Institutional Investors Weigh In On Sagimet Biosciences

Several large investors have recently bought and sold shares of the business. American International Group Inc. increased its stake in Sagimet Biosciences by 312.0% in the 1st quarter. American International Group Inc. now owns 11,372 shares of the company’s stock worth $62,000 after buying an additional 8,612 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Sagimet Biosciences during the first quarter valued at approximately $72,000. ORG Partners LLC purchased a new position in shares of Sagimet Biosciences in the 2nd quarter worth approximately $43,000. Nations Financial Group Inc. IA ADV purchased a new position in Sagimet Biosciences in the second quarter worth $51,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Sagimet Biosciences in the first quarter valued at about $91,000. 87.86% of the stock is currently owned by institutional investors.

About Sagimet Biosciences

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.