Sagimet Biosciences (NASDAQ:SGMT) Releases Earnings Results, Beats Estimates By $0.13 EPS

Sagimet Biosciences (NASDAQ:SGMT) issued its quarterly earnings data on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.13, reports.

Sagimet Biosciences Stock Performance

Shares of Sagimet Biosciences stock traded up $0.19 during trading hours on Wednesday, reaching $5.72. 77,053 shares of the company were exchanged, compared to its average volume of 621,697. The firm has a market cap of $185.85 million, a PE ratio of -3.28 and a beta of 3.35. Sagimet Biosciences has a 1 year low of $1.73 and a 1 year high of $11.41. The stock’s fifty day moving average is $5.76 and its 200 day moving average is $6.65.

Insider Buying and Selling

In related news, CEO David Happel sold 12,101 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total transaction of $64,861.36. Following the completion of the transaction, the chief executive officer directly owned 677,621 shares of the company’s stock, valued at $3,632,048.56. The trade was a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.70% of the stock is owned by insiders.

Institutional Trading of Sagimet Biosciences

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new position in shares of Sagimet Biosciences in the 1st quarter valued at $105,000. Geode Capital Management LLC raised its stake in Sagimet Biosciences by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock worth $2,023,000 after acquiring an additional 1,600 shares in the last quarter. American Century Companies Inc. raised its stake in Sagimet Biosciences by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock worth $322,000 after acquiring an additional 3,454 shares in the last quarter. XTX Topco Ltd lifted its position in Sagimet Biosciences by 137.0% in the second quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock valued at $195,000 after acquiring an additional 14,813 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Sagimet Biosciences in the second quarter valued at $1,130,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citizens Jmp increased their target price on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Friday, November 14th. Wall Street Zen downgraded shares of Sagimet Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Barclays assumed coverage on shares of Sagimet Biosciences in a report on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Thursday, January 22nd. Finally, Guggenheim assumed coverage on Sagimet Biosciences in a research note on Tuesday, February 3rd. They set a “buy” rating and a $27.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

About Sagimet Biosciences

Sagimet Biosciences (NASDAQ: SGMT) is a clinical-stage biotechnology company focused on developing novel therapies for fibrotic diseases. The company’s lead program, CM-101, is a first-in-class fusion protein designed to neutralize the chemokine CCL24 and interrupt key drivers of tissue fibrosis. Preclinical data have demonstrated CM-101’s potential to block fibrotic signaling pathways in multiple organ systems, and the company has advanced the program into early-stage clinical evaluation for indications such as nonalcoholic steatohepatitis and systemic sclerosis.

In addition to CM-101, Sagimet maintains a pipeline of preclinical candidates targeting inflammation-driven fibrotic processes.