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

Sagimet Biosciences Inc. (NASDAQ:SGMT) – Equities research analysts at HC Wainwright raised their Q3 2024 earnings per share (EPS) estimates for Sagimet Biosciences in a research report issued to clients and investors on Thursday, August 15th. HC Wainwright analyst E. Arce now forecasts that the company will earn ($0.52) per share for the quarter, up from their prior estimate of ($0.58). HC Wainwright currently has a “Buy” rating and a $32.00 target price on the stock. The consensus estimate for Sagimet Biosciences’ current full-year earnings is ($1.76) per share. HC Wainwright also issued estimates for Sagimet Biosciences’ Q4 2024 earnings at ($0.83) EPS, FY2024 earnings at ($1.85) EPS, Q1 2025 earnings at ($1.08) EPS, Q2 2025 earnings at ($1.24) EPS, Q3 2025 earnings at ($1.33) EPS, Q4 2025 earnings at ($1.36) EPS, FY2025 earnings at ($5.02) EPS, FY2026 earnings at ($5.86) EPS, FY2027 earnings at ($5.26) EPS and FY2028 earnings at ($3.05) EPS.

Sagimet Biosciences (NASDAQ:SGMT) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.09.

A number of other research firms have also commented on SGMT. JMP Securities lowered their price target on Sagimet Biosciences from $48.00 to $32.00 and set a “market outperform” rating for the company in a research report on Thursday. The Goldman Sachs Group restated a “neutral” rating and set a $6.00 target price (down previously from $23.00) on shares of Sagimet Biosciences in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Sagimet Biosciences Trading Down 0.4 %

Sagimet Biosciences stock opened at $2.75 on Monday. Sagimet Biosciences has a 1-year low of $2.13 and a 1-year high of $20.71. The firm has a 50-day moving average of $3.43 and a 200-day moving average of $4.73.

Insider Activity

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

Institutional Investors Weigh In On Sagimet Biosciences

A number of institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its holdings in Sagimet Biosciences by 24.7% in the fourth quarter. Federated Hermes Inc. now owns 97,276 shares of the company’s stock worth $527,000 after buying an additional 19,276 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Sagimet Biosciences by 215.0% in the 4th quarter. Victory Capital Management Inc. now owns 56,570 shares of the company’s stock worth $307,000 after acquiring an additional 38,610 shares during the last quarter. Vanguard Group Inc. lifted its position in Sagimet Biosciences by 364.9% in the 1st quarter. Vanguard Group Inc. now owns 1,139,407 shares of the company’s stock valued at $6,176,000 after acquiring an additional 894,319 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Sagimet Biosciences during the 1st quarter valued at $188,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Sagimet Biosciences in the 1st quarter worth $72,000. 87.86% of the stock is owned by hedge funds and other 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.