Research analysts at HC Wainwright started coverage on shares of Sagimet Biosciences (NASDAQ:SGMT – Get Free Report) in a report released on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $32.00 price target on the stock.
Other analysts have also issued research reports about the stock. JMP Securities lowered their price target on shares of Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating for the company in a report on Wednesday, February 7th. Leerink Partnrs reissued an “outperform” rating on shares of Sagimet Biosciences in a report on Monday, March 25th. SVB Leerink started coverage on shares of Sagimet Biosciences in a report on Monday, March 25th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, The Goldman Sachs Group lowered their price target on shares of Sagimet Biosciences from $37.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Sagimet Biosciences currently has a consensus rating of “Buy” and an average price target of $39.60.
Check Out Our Latest Research Report on Sagimet Biosciences
Sagimet Biosciences Stock Performance
Insider Buying and Selling at Sagimet Biosciences
In other Sagimet Biosciences news, CEO David Happel acquired 12,100 shares of Sagimet Biosciences stock in a transaction on Tuesday, March 26th. The shares were 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 $3,368,584. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 17.60% of the company’s stock.
Hedge Funds Weigh In On Sagimet Biosciences
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC bought a new position in Sagimet Biosciences in the third quarter valued at approximately $23,517,000. Rock Springs Capital Management LP acquired a new position in shares of Sagimet Biosciences in the 3rd quarter valued at $6,498,000. RTW Investments LP acquired a new position in shares of Sagimet Biosciences in the 3rd quarter valued at $3,522,000. Platinum Investment Management Ltd. acquired a new position in shares of Sagimet Biosciences in the 3rd quarter valued at $3,378,000. Finally, CHI Advisors LLC acquired a new position in shares of Sagimet Biosciences in the 3rd quarter valued at $3,070,000. 87.86% of the stock is owned by institutional investors.
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.
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