Brokerages Set Sagimet Biosciences Inc. (NASDAQ:SGMT) Target Price at $39.60

Sagimet Biosciences Inc. (NASDAQ:SGMTGet Free Report) has received an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $38.80.

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Sagimet Biosciences from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Leerink Partnrs reissued an “outperform” rating on shares of Sagimet Biosciences in a research report on Monday, March 25th. JMP Securities dropped their target price on shares of 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. SVB Leerink began coverage on shares of Sagimet Biosciences in a research note on Monday, March 25th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Sagimet Biosciences in a research report on Thursday, May 16th.

View Our Latest Stock Analysis on Sagimet Biosciences

Sagimet Biosciences Stock Performance

NASDAQ SGMT opened at $4.74 on Thursday. The stock’s 50 day moving average price is $4.63 and its two-hundred day moving average price is $5.64. Sagimet Biosciences has a 52 week low of $2.13 and a 52 week high of $20.71.

Insider Buying and Selling at Sagimet Biosciences

In related news, CEO David Happel purchased 12,100 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was purchased at an average cost of $5.27 per share, with a total value of $63,767.00. Following the completion of the purchase, the chief executive officer now owns 639,200 shares in the company, valued at approximately $3,368,584. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Sagimet Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of SGMT. New York State Common Retirement Fund acquired a new position in Sagimet Biosciences during the third quarter worth $56,000. American International Group Inc. lifted its position in Sagimet Biosciences by 312.0% in the 1st quarter. American International Group Inc. now owns 11,372 shares of the company’s stock valued at $62,000 after acquiring an additional 8,612 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Sagimet Biosciences during the first quarter valued at approximately $72,000. Price T Rowe Associates Inc. MD bought a new position in Sagimet Biosciences during the 1st quarter valued at $91,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Sagimet Biosciences in the third quarter valued at about $158,000. Institutional investors own 87.86% of the company’s stock.

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 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.

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Analyst Recommendations for Sagimet Biosciences (NASDAQ:SGMT)

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