Q3 2024 EPS Estimates for Sagimet Biosciences Inc. (NASDAQ:SGMT) Raised by Analyst

Sagimet Biosciences Inc. (NASDAQ:SGMT) – Investment analysts at Leerink Partnrs upped their Q3 2024 earnings per share (EPS) estimates for Sagimet Biosciences in a report issued on Wednesday, August 14th. Leerink Partnrs analyst T. Smith now anticipates that the company will earn ($0.43) per share for the quarter, up from their prior forecast of ($0.53). The consensus estimate for Sagimet Biosciences’ current full-year earnings is ($1.76) per share. Leerink Partnrs also issued estimates for Sagimet Biosciences’ Q4 2024 earnings at ($0.66) EPS, FY2024 earnings at ($1.59) EPS, FY2025 earnings at ($3.40) EPS, FY2026 earnings at ($4.84) EPS, FY2027 earnings at ($6.78) EPS and FY2028 earnings at ($5.24) EPS.

Other analysts also recently issued research reports about the company. JMP Securities lowered their target price on Sagimet Biosciences from $48.00 to $32.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 15th. HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Sagimet Biosciences in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $6.00 target price (down from $23.00) on shares of Sagimet Biosciences in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Sagimet Biosciences Stock Up 7.4 %

NASDAQ:SGMT opened at $3.03 on Monday. The firm’s fifty day moving average is $3.35 and its two-hundred day moving average is $4.63. Sagimet Biosciences has a one year low of $2.13 and a one year high of $20.71.

Sagimet Biosciences (NASDAQ:SGMT) last released its quarterly earnings data 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its stake in shares of Sagimet Biosciences by 312.0% in the first 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 acquired a new position in shares of Sagimet Biosciences during the 1st quarter worth approximately $72,000. ORG Partners LLC purchased a new stake in shares of Sagimet Biosciences in the second quarter valued at approximately $43,000. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Sagimet Biosciences in the second quarter valued at approximately $51,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Sagimet Biosciences in the first quarter valued at approximately $91,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Insider Buying and Selling

In related news, Chairman George Kemble sold 23,625 shares of Sagimet Biosciences stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $3.17, for a total value of $74,891.25. Following the sale, the chairman now owns 118,693 shares of the company’s stock, valued at approximately $376,256.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eduardo Bruno Martins sold 8,357 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $3.10, for a total value of $25,906.70. Following the transaction, the insider now owns 81,213 shares in the company, valued at $251,760.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman George Kemble sold 23,625 shares of Sagimet Biosciences stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $3.17, for a total value of $74,891.25. Following the completion of the sale, the chairman now directly owns 118,693 shares in the company, valued at $376,256.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,958 shares of company stock valued at $178,224. 17.60% of the stock is owned by company insiders.

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.