SGMT Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About SGMT Interactive Breakdown Better Bets vs. SGMT Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Sagimet Biosciences (SGMT)

    Market Price (11/6/2026): $9.0 | Market Cap: $638.2 MilSector: Health Care | Industry: Biotechnology

    Sagimet Biosciences (SGMT)

    Market Price (11/6/2026): $9.0
    Market Cap: $638.2 Mil
    Sector: Health Care
    Industry: Biotechnology

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -49%

    Megatrend and thematic drivers
    Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

    Very low revenue
    Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

    Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -53 Mil

    Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14%

    Significant short interest
    Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 22%

    Key risks
    SGMT key risks include [1] its singular reliance on the clinical and regulatory success of its lead MASH candidate, Show more.

    0 Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -49%
    1 Megatrend and thematic drivers
    Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
    2 Very low revenue
    Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
    3 Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -53 Mil
    4 Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14%
    5 Significant short interest
    Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 22%
    6 Key risks
    SGMT key risks include [1] its singular reliance on the clinical and regulatory success of its lead MASH candidate, Show more.

    SGMT in ETFs

    Weight = SGMT's share of each fund

    VTI0.00%
    ITOT0.00%
    IWM0.02%
    XBI0.13%
    IBB0.04%
    IWO0.03%
    VTWO0.02%
    IWN0.01%
    +3 more covered ETFs

    Valuation & Metrics

    FYE: 12/31SGMT [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$0.0 Mil—
    FY 2026 Sales$0.1 Mil—
    FY 2027 Sales$8.1 Mil—
    FY 2026 Sales Growth——
    FY 2027 Sales Growth7,219.1%8.7%
    EARNINGS
    LTM Net Income (GAAP) [3]$-47.1 Mil—
    FY 2026 Net Income (Non-GAAP)$-36.3 Mil—
    FY 2027 Net Income (Non-GAAP)$-42.4 Mil—
    FY 2027 Net Income Growth—13.9%
    FY 2026 EPS (Non-GAAP)$-1.13—
    FY 2027 EPS (Non-GAAP)$-1.34—
    FY 2027 EPS Growth——
    VALUATION
    FY 2026 P/S5,743.61.7
    FY 2027 P/S78.5—
    FY 2026 P/E—8.7
    FY 2027 P/E——

    [1] SGMT forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 11/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
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    AI Analysis | Feedback

    MetricValueDateSource
    Total Patents Globally14011082024Link
    Number of Active Patents10911082024Link
    Number of Unique Patent Families2111082024Link
    Development Pipeline: Denifanstat for MASHPhase 3 Ready11082025Link
    Development Pipeline: Denifanstat (ASC40) for Acne (in China)Phase 311082025Link
    Development Pipeline: TVB-3567 for AcnePhase 111082025Link
    Development Pipeline: Denifanstat for Solid TumorsPreclinical11082025Link
    Planned Enrollment for Denifanstat Phase 3 Program (MASH)Minimum of 1,800 patients3122025Link
    Patient Enrollment in Phase 3 Trial of Denifanstat for Acne (China)4803122025Link
    Patient Enrollment in Phase 3 Trial of Denifanstat for Recurrent Glioblastoma (China)1209272023Link

    Price Chart

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    Upcoming
    11/12/2026Earnings ReleaseRev: $0.0 Mil (E)
    EPS: $-0.25 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 11/5/2026

    Sagimet Biosciences (SGMT) stock has gained about 30% since 7/31/2026 because of the following key factors:

    1. Advancement in the U.S. Phase 3 Clinical Trial for Denifanstat in Acne and Positive China Trial Results.

    Sagimet Biosciences significantly progressed its lead dermatology program, denifanstat, for moderate-to-severe acne. The U.S. Food and Drug Administration (FDA) issued a "Study May Proceed" letter for the Investigational New Drug (IND) application for the AURORA Phase 3 trial in August 2026. Subsequently, the first patient was dosed in the U.S. AURORA Phase 3 acne trial in October 2026, with topline results anticipated in the second half of 2027. This progress was further bolstered by positive 52-week data from Sagimet's license partner Ascletis's China Phase 3 open-label extension clinical trial of denifanstat in acne, which demonstrated continued improvement in efficacy. China's National Medical Products Administration (NMPA) also accepted Ascletis's New Drug Application (NDA) for review. The company had previously announced in April 2026 its strategic decision to prioritize the dermatology franchise.

    2. Strengthened Financial Position and Extended Cash Runway through Successful Equity Offerings.

    The company significantly bolstered its financial position, which de-risked operations and provided a longer cash runway. In April 2026, Sagimet completed a $175 million underwritten offering that, combined with existing cash, was expected to fund operations through 2028. This was followed by the pricing of a $115.0 million underwritten offering of Series A common stock and pre-funded warrants in September 2026, which closed on October 1, 2026. The net proceeds from this additional offering were anticipated to extend the company's funding through mid-2029, including the readout of the Phase 3 denifanstat trial and NDA submission.

    Show more
    Updated on 11/5/2026

    Sagimet Biosciences (SGMT) stock has gained about 30% since 7/31/2026 because of the following key factors:

    1. Advancement in the U.S. Phase 3 Clinical Trial for Denifanstat in Acne and Positive China Trial Results.

    Sagimet Biosciences significantly progressed its lead dermatology program, denifanstat, for moderate-to-severe acne. The U.S. Food and Drug Administration (FDA) issued a "Study May Proceed" letter for the Investigational New Drug (IND) application for the AURORA Phase 3 trial in August 2026. Subsequently, the first patient was dosed in the U.S. AURORA Phase 3 acne trial in October 2026, with topline results anticipated in the second half of 2027. This progress was further bolstered by positive 52-week data from Sagimet's license partner Ascletis's China Phase 3 open-label extension clinical trial of denifanstat in acne, which demonstrated continued improvement in efficacy. China's National Medical Products Administration (NMPA) also accepted Ascletis's New Drug Application (NDA) for review. The company had previously announced in April 2026 its strategic decision to prioritize the dermatology franchise.

    2. Strengthened Financial Position and Extended Cash Runway through Successful Equity Offerings.

    The company significantly bolstered its financial position, which de-risked operations and provided a longer cash runway. In April 2026, Sagimet completed a $175 million underwritten offering that, combined with existing cash, was expected to fund operations through 2028. This was followed by the pricing of a $115.0 million underwritten offering of Series A common stock and pre-funded warrants in September 2026, which closed on October 1, 2026. The net proceeds from this additional offering were anticipated to extend the company's funding through mid-2029, including the readout of the Phase 3 denifanstat trial and NDA submission.

    3. Favorable Analyst Consensus and High Price Targets.

    Sagimet Biosciences received a generally positive outlook from Wall Street analysts, which contributed to investor confidence. As of November 5, 2026, 12 Wall Street analysts maintained a "Moderate Buy" consensus rating for SGMT. The average 12-month price target was $26.63, suggesting a substantial potential upside of 166.61% from the stock's price of $9.99 on the same date. Individual price targets ranged from a low of $7.00 to a high of $56.00. Throughout the period, some analysts also upgraded their ratings or increased price targets, such as Barclays upgrading to Overweight and raising its target to $18 from $8 in September 2026, and Oppenheimer lifting its target to $38 from $33.

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    Stock Movement Drivers

    Fundamental Drivers

    The 28.3% change in SGMT stock from 7/31/2026 to 11/5/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
    (LTM values as of)731202611052026Change
    Stock Price ($)7.119.1228.3%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)3353-38.7%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2026 to 11/5/2026
    ReturnCorrelation
    SGMT28.3% 
    Market (SPY)-1.9%34.9%
    Sector (XLV)13.8%20.1%

    Fundamental Drivers

    The 13.6% change in SGMT stock from 4/30/2026 to 11/5/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
    (LTM values as of)430202611052026Change
    Stock Price ($)8.039.1213.6%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)3353-38.8%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 11/5/2026
    ReturnCorrelation
    SGMT13.6% 
    Market (SPY)2.3%32.7%
    Sector (XLV)27.2%13.8%

    Fundamental Drivers

    The 7.0% change in SGMT stock from 10/31/2025 to 11/5/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
    (LTM values as of)1031202511052026Change
    Stock Price ($)8.529.127.0%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)3253-39.4%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2025 to 11/5/2026
    ReturnCorrelation
    SGMT7.0% 
    Market (SPY)8.4%32.6%
    Sector (XLV)29.8%13.7%

    Fundamental Drivers

    The 149.2% change in SGMT stock from 10/31/2023 to 11/5/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
    (LTM values as of)1031202311052026Change
    Stock Price ($)3.669.12149.2%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)2253-58.3%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2023 to 11/5/2026
    ReturnCorrelation
    SGMT149.2% 
    Market (SPY)81.3%21.2%
    Sector (XLV)55.5%14.7%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    SGMT Return---66%-17%32%54%-43%
    Peers Return-17%95%23%23%62%-33%167%
    S&P 500 Return27%-19%24%23%16%12%105%

    Monthly Win Rates [3]
    SGMT Win Rate--33%33%42%45% 
    Peers Win Rate35%38%42%54%46%32% 
    S&P 500 Win Rate75%42%67%75%67%45% 

    Max Drawdowns [4]
    SGMT Max Drawdown----87%-72%-32% 
    Peers Max Drawdown-56%-55%-64%-58%-43%-48% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: MDGL, VKTX, ALT, GALT.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 11/5/2026 (YTD)

    How Low Can It Go

    EventSGMTS&P 500
    2025 US Tariff Shock
      % Loss-53.7%-18.8%
      % Gain to Breakeven115.8%23.1%
      Time to Breakeven58 days79 days
    2024 Yen Carry Trade Unwind
      % Loss-22.6%-7.8%
      % Gain to Breakeven29.1%8.5%
      Time to Breakeven27 days18 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-86.1%-9.5%
      % Gain to Breakeven618.4%10.5%
      Time to Breakeven70 days24 days

    Compare to MDGL, VKTX, ALT, GALT

    In The Past

    Sagimet Biosciences's stock fell -53.7% during the 2025 US Tariff Shock. Such a loss loss requires a 115.8% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventSGMTS&P 500
    2025 US Tariff Shock
      % Loss-53.7%-18.8%
      % Gain to Breakeven115.8%23.1%
      Time to Breakeven58 days79 days
    2024 Yen Carry Trade Unwind
      % Loss-22.6%-7.8%
      % Gain to Breakeven29.1%8.5%
      Time to Breakeven27 days18 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-86.1%-9.5%
      % Gain to Breakeven618.4%10.5%
      Time to Breakeven70 days24 days

    Compare to MDGL, VKTX, ALT, GALT

    In The Past

    Sagimet Biosciences's stock fell -53.7% during the 2025 US Tariff Shock. Such a loss loss requires a 115.8% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Sagimet Biosciences (SGMT)

    Sagimet Biosciences (SGMT) is a clinical-stage biopharmaceutical company focused on developing novel therapeutics called fatty acid synthase (FASN) inhibitors. Their lead drug candidate, denifanstat, is an oral, once-daily pill designed to target dysfunctional metabolic pathways that lead to the overproduction of the fatty acid, palmitate. Denifanstat has been studied in over 600 individuals to date and has received Fast Track designation from the U.S. FDA, highlighting its potential in addressing significant unmet medical needs.

    The company's primary market is the treatment of Nonalcoholic Steatohepatitis (NASH), a prevalent and progressive liver disease for which there are currently no approved treatments in the United States or Europe. Denifanstat is currently being evaluated in a Phase 2b clinical trial (FASCINATE-2) in patients with biopsy-confirmed NASH. Interim results from this trial and earlier studies have shown statistically significant improvements across key markers of the disease, including substantial reductions in liver fat, decreased inflammation, and improved fibrosis scores. Sagimet anticipates announcing topline liver biopsy results from the FASCINATE-2 trial in the first quarter of 2024, which are expected to directly demonstrate the drug's impact on NASH disease progression.

    AI Analysis | Feedback

    Early-stage Vertex Pharmaceuticals for NASH.

    AI Analysis | Feedback

    • Denifanstat: An oral, once-daily selective fatty acid synthase (FASN) inhibitor currently in Phase 2b clinical trials for the treatment of nonalcoholic steatohepatitis (NASH).

    AI Analysis | Feedback

    Sagimet Biosciences (SGMT) is a clinical-stage biopharmaceutical company. Its lead drug candidate, denifanstat, is currently in Phase 2b clinical trials for the treatment of nonalcoholic steatohepatitis (NASH) and has not yet received regulatory approval in the United States or Europe.

    As such, Sagimet Biosciences does not currently have major customers in the traditional sense, as it is not yet selling an approved product. Its focus is on the research and development of its drug candidate. If denifanstat receives approval in the future, its ultimate customers would primarily be:

    1. Patients: Individuals diagnosed with NASH who would be prescribed denifanstat by their healthcare providers.

    2. Healthcare Providers/Institutions: Hospitals, clinics, and individual physicians who would prescribe and administer the drug to their patients.

    3. Payors: Insurance companies, government healthcare programs (e.g., Medicare, Medicaid), and other third-party payors that would cover the cost of denifanstat for eligible patients.

    The company is not currently selling its product to other companies or individuals.

    AI Analysis | Feedback

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    David Happel, Chief Executive Officer & Director

    David Happel joined Sagimet as Chief Executive Officer in October 2022. He has extensive industry experience, with a strong track record of developing and executing corporate business strategies, raising private and public capital, negotiating M&A transactions, scaling operations, and commercializing products. He was most recently President and Chief Executive Officer of Cognoa, a pediatric behavioral health company that developed the first FDA-authorized diagnostic aid for autism. Mr. Happel previously served as CEO of Chrono Therapeutics and held executive and commercial positions at Horizon Therapeutics, Raptor Pharmaceuticals, Dynavax Technologies, and Chiron.

    Thierry Chauche, Chief Financial Officer

    Thierry Chauche joined Sagimet as Chief Financial Officer in May 2024, bringing over 20 years of financial and operational leadership experience. Most recently, he served as the Chief Financial Officer of Provention Bio, a publicly traded biopharmaceutical company. In this role, he focused on the successful execution of several financings, the commercial launch of Tzield®, and the company's acquisition by Sanofi in April 2023. Before Provention Bio, Mr. Chauche was Vice President and Head of Strategic Financial Planning & Analysis at Alexion Pharmaceuticals, and held roles at Intercept Pharmaceuticals, Novartis, and Rothschild & Cie.

    Eduardo Bruno Martins, MD, DPhil, Chief Medical Officer

    Dr. Martins joined Sagimet in February 2021 and has over 20 years of experience as a leader in the US and global biopharmaceutical industry. He has worked in various therapeutic areas, including hepatology, vaccines, allergy and immunology, orphan diseases, and oncology, from translational research to Phase 4 clinical studies. His previous experience includes leadership of large-scale multinational clinical trials and building global teams. Most recently at AbbVie, Dr. Martins was Vice President of Clinical Development and led the clinical development of cenicriviroc for nonalcoholic steatohepatitis (NASH). Prior to AbbVie, he served as Vice President of Clinical Development at Allergan.

    Elizabeth Rozek, Chief Legal & Administrative Officer

    Elizabeth Rozek currently serves as Sagimet's Chief Legal & Administrative Officer. She joined Sagimet as General Counsel & Chief Compliance Officer in April 2023 and served in that role until October 2025. From December 2020 to December 2022, Ms. Rozek served as General Counsel and Chief Compliance Officer of Cognoa, Inc.

    Marie O'Farrell, PhD, Chief Scientific Officer

    Dr. O'Farrell serves as Sagimet's Chief Scientific Officer, leading the company's R&D team. She previously served as Sagimet's Senior Vice President of Research and Development from 2019 through October 2025 and headed translational sciences from 2013 to 2016. Dr. O'Farrell began her career in drug development in 1998 at Systemix (Novartis) and has since held positions of increasing responsibility at several companies, primarily in metabolic disease and oncology.

    AI Analysis | Feedback

    The primary key risk to Sagimet Biosciences' business is the potential for its lead drug candidate, denifanstat, to fail to achieve its endpoints in ongoing or future clinical trials, particularly the upcoming topline liver biopsy results from the FASCINATE-2 Phase 2b trial, or to ultimately fail to obtain regulatory approval. The company explicitly states that "interim clinical trial results may not be indicative of future results."

    AI Analysis | Feedback

    null

    AI Analysis | Feedback

    The addressable market for Sagimet Biosciences' main product, denifanstat, which targets nonalcoholic steatohepatitis (NASH), is more than 265 million people worldwide as of 2019.

    AI Analysis | Feedback

    Following are the expected drivers of future revenue growth for Sagimet Biosciences (SGMT) over the next 2-3 years:
    1. Successful Clinical Advancement and Initiation of Phase 3 Trials for Denifanstat in NASH: A key driver will be the successful completion of the FASCINATE-2 Phase 2b trial, with topline liver biopsy results expected in the first quarter of 2024. Positive outcomes from this trial will enable the design and initiation of pivotal Phase 3 clinical trials for denifanstat in nonalcoholic steatohepatitis (NASH). This progression is crucial for moving towards regulatory approval and eventual market entry, establishing denifanstat as a leading therapeutic in a market with no currently approved treatments.
    2. Regulatory Approval and Commercial Launch of Denifanstat for NASH: Given denifanstat's Fast Track designation from the U.S. Food and Drug Administration (FDA) and the significant unmet medical need in NASH, achieving regulatory approval and subsequently launching denifanstat commercially will be a primary revenue driver. As the first approved treatment for NASH in the United States or Europe, denifanstat would be poised to capture a substantial share of the market.
    3. Expansion into New Therapeutic Areas through FASN Inhibition: Beyond NASH, Sagimet Biosciences is evaluating the potential of FASN inhibition in additional disease areas where dysregulation of fatty acid metabolism plays a key role, including acne and certain forms of cancer. Successful preclinical and early clinical development in these new indications would broaden the company's pipeline and create future revenue streams, diversifying its therapeutic portfolio.

    AI Analysis | Feedback

    Capital Allocation Decisions

    Share Issuance

    • Sagimet Biosciences completed an initial public offering (IPO) on July 14, 2023, raising gross proceeds of approximately $85.0 million by issuing 5,312,500 shares at $16.00 per share.
    • Following the IPO, the underwriters partially exercised their option, leading to the sale of an additional 714,272 shares at $16.00 per share, increasing the total gross proceeds from the IPO to approximately $96.4 million.
    • In January 2024, the company priced an underwritten public offering of 9,000,000 shares of its Series A common stock at $12.50 per share, with expected gross proceeds of $112.5 million.

    Capital Expenditures

    • Sagimet Biosciences' estimated capital expenditures are $3 million for 2025, $3 million for 2026, and $3 million for 2027.

    Peer Outperformance in Biotechnology

    null
    Share of Biotechnology constituents that SGMT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    73%
    of 452 industry peers · 17.4% return
    3Y
    82%
    of 398 industry peers · 143.2% return
    5Y
    —
    insufficient peer history
    null
    Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is SGMT's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Health Care Distributors 6 7.6%56.6%93.6% CAH 498% · MCK 396% · COR 181%
    Health Care Services 20 33.8%28.8%6.1% HIMS 189% · RDNT 125% · DGX 100%
    Health Care Facilities 25 13.9%27.4%-1.4% THC 280% · NHC 210% · EHC 186%
    Managed Health Care 8 47.9%1.6%-2.2% OSCR 95% · HQY 52% · ELV 10%
    Health Care Equipment 50 11.0%17.8%-17.6% UFPT 355% · GKOS 286% · PLSE 127%
    Pharmaceuticals 61 -12.9%10.6%-37.3% LQDA 977% · XERS 571% · KNSA 500%
    Health Care Supplies 11 23.9%17.0%-40.1% LNTH 248% · HAE 66% · MMSI 29%
    Life Sciences Tools & Services 108 -8.1%-18.9%-74.5% AXGN 255% · NTRA 214% · MEDP 181%
    Biotechnology ← 364 -25.8%-36.1%-82.0% ELVN 1073% · TRVI 995% · DNTH 956%
    Health Care Technology 21 -21.4%-50.4%-82.8% VEEV -3% · DOCS -51%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

    Latest Trefis Analyses

    TitleDate
    0DASHBOARDS 
    1Sagimet Biosciences Earnings Notes12/16/2025
    Title
    0ARTICLES

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    ICHRIchor1.0-54.0%52.1%

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    Peer Comparisons

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    Financials

    SGMTMDGLVKTXALTGALTMedian
    NameSagimet .Madrigal.Viking T.AltimmuneGalectin. 
    Mkt Price9.00400.1025.801.982.989.00
    Mkt Cap0.511.73.00.40.20.5
    Rev LTM01,4280000
    Op Inc LTM-53-153-649-100-16-100
    FCF LTM-42-169-463-77-16-77
    FCF 3Y Avg-40-256-254-77-28-77
    CFO LTM-42-157-463-77-16-77
    CFO 3Y Avg-40-250-254-77-28-77

    Growth & Margins

    SGMTMDGLVKTXALTGALTMedian
    NameSagimet .Madrigal.Viking T.AltimmuneGalectin. 
    Rev Chg LTM-92.8%-55.0%-73.9%
    Rev Chg 3Y Avg---188.3%-188.3%
    Rev Chg Q-50.1%--100.0%--24.9%
    QoQ Delta Rev Chg LTM-11.2%--13.9%--1.3%
    Op Inc Chg LTM21.3%50.4%-136.0%-6.2%54.1%21.3%
    Op Inc Chg 3Y Avg-29.5%12.3%-95.7%-4.7%21.4%-4.7%
    Op Mgn LTM--10.7%--323,306.5%--161,658.6%
    Op Mgn 3Y Avg--255.2%--272,980.7%--136,618.0%
    QoQ Delta Op Mgn LTM-14.4%--54,089.8%--27,037.7%
    CFO/Rev LTM--11.0%--246,800.0%--123,405.5%
    CFO/Rev 3Y Avg--197.9%--224,047.7%--112,122.8%
    FCF/Rev LTM--11.8%--246,974.2%--123,493.0%
    FCF/Rev 3Y Avg--201.4%--224,105.7%--112,153.6%

    Valuation

    SGMTMDGLVKTXALTGALTMedian
    NameSagimet .Madrigal.Viking T.AltimmuneGalectin. 
    Mkt Cap0.511.73.00.40.20.5
    P/S-8.2-11,844.5-5,926.3
    P/Op Inc-9.1-76.7-4.7-3.7-12.5-9.1
    P/EBIT-9.1-94.9-4.5-4.2-9.8-9.1
    P/E-10.2-75.3-4.9-4.0-7.0-7.0
    P/CFO-11.5-74.5-6.6-4.8-12.3-11.5
    Total Yield-9.7%-1.3%-20.6%-25.1%-14.2%-14.2%
    Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%
    FCF Yield 3Y Avg-17.7%-4.0%-6.9%-19.1%-12.9%-12.9%
    D/E0.00.00.10.10.70.1
    Net D/E-0.5-0.1-0.2-0.80.6-0.2

    Returns

    SGMTMDGLVKTXALTGALTMedian
    NameSagimet .Madrigal.Viking T.AltimmuneGalectin. 
    1M Rtn2.7%-19.4%-9.1%-25.8%-20.7%-19.4%
    3M Rtn3.0%-21.6%-22.5%-34.2%-7.5%-21.6%
    6M Rtn17.8%-25.2%-18.3%-34.9%41.2%-18.3%
    12M Rtn15.8%-15.9%-29.3%-47.2%-47.1%-29.3%
    3Y Rtn140.0%171.5%147.8%-25.8%46.8%140.0%
    1M Excs Rtn2.8%-16.5%-8.1%-24.1%-16.2%-16.2%
    3M Excs Rtn0.2%-20.7%-23.8%-34.8%-12.7%-20.7%
    6M Excs Rtn13.1%-30.0%-23.1%-39.7%36.4%-23.1%
    12M Excs Rtn4.9%-23.6%-39.0%-61.0%-61.0%-39.0%
    3Y Excs Rtn63.7%121.2%79.6%-101.6%-37.1%63.7%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/11/20265/12/20263/11/202611/13/20258/13/20255/8/20253/12/202511/14/20248/14/20245/15/20243/25/202411/13/2023
    Key Financials Quarterly            
    Total Revenue000000000002
    Ebitda-16-12-11-14-12-20-18-17-11-9-9-7
    Operating Income-16-12-11-14-12-20-18-17-11-9-9-7
    Net Income-14-11-10-13-10-18-16-15-8-7-8-6
    EPS-0.26-0.33-0.29-0.40-0.32-0.56-0.50-0.45-0.25-0.23-0.36-0.35
    Key Financials TTM            
    Total Revenue TTM000000002222
    Ebitda TTM-53-49-57-64-67-66-54-46-36-33-31-29
    Operating Income TTM-53-49-57-64-67-66-54-46-36-33-31-29
    Net Income TTM-47-44-51-58-59-57-46-38-29-28-28-27
    Growth Rates Quarterly            
    Total Revenue Growth--------100.0%----
    EBITDA Growth-32.6%41.0%40.8%15.2%-12.6%-126.6%-92.2%-126.8%-50.0%-29.6%-28.1%3.0%
    Operating Income Growth-32.6%41.0%40.8%15.2%-12.6%-126.6%-92.2%-126.8%-50.0%-29.6%-28.1%3.0%
    Net Income Growth-34.3%41.4%40.9%11.7%-27.9%-174.2%-98.8%-130.1%-19.6%-0.6%-13.3%14.9%
    Margins Quarterly            
    EBITDA Margin------------372.6%
    Operating Income Margin------------372.6%
    Net Income Margin------------317.6%
    Cash & Debt            
    Total Cash24010511311712514515115216619495102
    Total Debt200000000000
    Net Debt / (Cash)-238-104-113-117-125-145-151-152-166-194-95-102
    Cash Flows Quarterly            
    FCF from Operations-11-9-12-10-9-15-11-20-6-6-7-4
    Cash Flows TTM            
    FCF from Operations TTM-42-40-46-45-54-51-42-38-23-23-24-24
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-16.3%-13.2%-12.5%-16.9%-14.5%-25.8%-24.3%-22.7%-15.0%-13.9%-15.4%-12.5%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-13.5%-13.7%-16.5%-18.9%-20.3%-21.3%-18.2%-15.4%-12.9%-13.0%-12.5%-12.1%

    Segment Financials

    Revenue by Segment
    $ Mil20242023202220212020
    Development and commercialization of therapeutics for the treatment of metabolic dysfunction02   
    Single Segment  000
    Total02000


    Net Income by Segment
    $ Mil202520242023
    Development and commercialization of therapeutics for the treatment of metabolic dysfunction-51-46-28
    Total-51-46-28


    Assets by Segment
    $ Mil20232022202120202019
    Single Segment9733596911
    Total9733596911


    Price Behavior

    Price Behavior
    Market Price$9.12 
    Market Cap ($ Bil)0.5 
    First Trading Date07/14/2023 
    Distance from 52W High-18.4% 
       50 Days200 Days
    DMA Price$9.88$7.57
    DMA Trendupup
    Distance from DMA-7.7%20.6%
     3M1YR
    Volatility75.5%82.2%
    Downside Capture161.61223.28
    Upside Capture232.45223.52
    Correlation (S&P 500)19.7%30.1%
    SGMT Betas & Captures as of 10/31/2026

     1M2M3M6M1Y3Y
    Beta2.971.781.991.602.002.03
    Up Beta-9.05-4.350.451.272.321.62
    Down Beta0.24-0.102.040.930.841.89
    Up Capture562%370%381%276%418%2686%
    Bmk +ve Days12182862130427
    Stock +ve Days9193056117352
    Down Capture382%274%130%151%158%113%
    Bmk -ve Days10253664121325
    Stock -ve Days13223166128384

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SGMT
    SGMT19.9%82.2%0.56-
    Sector ETF (XLV)29.2%16.9%1.3314.0%
    Equity (SPY)9.5%13.6%0.4132.4%
    Gold (GLD)3.6%28.7%0.117.3%
    Commodities (DBC)37.7%21.2%1.40-10.1%
    Real Estate (VNQ)12.0%14.2%0.556.2%
    Bitcoin (BTCUSD)-20.8%43.3%-0.4212.6%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SGMT
    SGMT-11.8%143.9%0.39-
    Sector ETF (XLV)8.6%15.4%0.3615.7%
    Equity (SPY)11.3%17.3%0.4821.4%
    Gold (GLD)17.5%19.1%0.742.2%
    Commodities (DBC)8.0%19.6%0.290.9%
    Real Estate (VNQ)1.2%18.9%-0.0516.1%
    Bitcoin (BTCUSD)5.9%51.5%0.295.6%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SGMT
    SGMT-6.1%143.9%0.39-
    Sector ETF (XLV)12.2%16.8%0.6015.7%
    Equity (SPY)14.9%18.0%0.7021.4%
    Gold (GLD)12.0%16.5%0.592.2%
    Commodities (DBC)7.6%18.1%0.330.9%
    Real Estate (VNQ)5.7%20.7%0.2316.1%
    Bitcoin (BTCUSD)61.3%66.2%1.015.6%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date10152026
    Short Interest: Shares Quantity11.5 Mil
    Short Interest: % Change Since 93020263.0%
    Average Daily Volume1.4 Mil
    Days-to-Cover Short Interest8.2 days
    Basic Shares Quantity53.1 Mil
    Short % of Basic Shares21.7%

    Earnings Returns History

    Updated 10/22/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/11/2026-0.5%9.0%13.5%
    5/12/2026-0.5%-13.4%-15.5%
    3/11/20263.8%-6.1%2.0%
    11/13/2025-12.2%-11.0%-31.6%
    8/13/20250.3%-27.6%-26.3%
    5/8/2025-4.2%-7.2%66.5%
    3/12/20253.4%13.4%-33.1%
    11/14/2024-14.0%-24.9%-27.1%
    ...
    SUMMARY STATS   
    # Positive566
    # Negative877
    Median Positive3.8%13.7%20.6%
    Median Negative-9.7%-11.0%-26.3%
    Max Positive15.7%16.0%86.5%
    Max Negative-14.0%-27.6%-33.1%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/11/2026-0.5%9.0%13.5%
    5/12/2026-0.5%-13.4%-15.5%
    3/11/20263.8%-6.1%2.0%
    11/13/2025-12.2%-11.0%-31.6%
    8/13/20250.3%-27.6%-26.3%
    5/8/2025-4.2%-7.2%66.5%
    3/12/20253.4%13.4%-33.1%
    11/14/2024-14.0%-24.9%-27.1%
    8/14/2024-7.1%13.9%27.8%
    5/15/20245.5%9.4%9.4%
    3/25/202415.7%16.0%-5.1%
    11/13/2023-13.7%14.5%86.5%
    8/21/2023-13.7%-5.3%-5.8%
    SUMMARY STATS   
    # Positive566
    # Negative877
    Median Positive3.8%13.7%20.6%
    Median Negative-9.7%-11.0%-26.3%
    Max Positive15.7%16.0%86.5%
    Max Negative-14.0%-27.6%-33.1%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/11/202610-Q
    03/31/202605/12/202610-Q
    12/31/202503/11/202610-K
    09/30/202511/13/202510-Q
    06/30/202508/13/202510-Q
    03/31/202505/08/202510-Q
    12/31/202403/12/202510-K
    09/30/202411/14/202410-Q
    06/30/202408/14/202410-Q
    03/31/202405/15/202410-Q
    12/31/202303/25/202410-K
    09/30/202311/13/202310-Q
    06/30/202308/21/202310-Q
    03/31/202307/17/2023424B4
    03/31/202105/10/2021S-1/A
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/11/202610-Q
    03/31/202605/12/202610-Q
    12/31/202503/11/202610-K
    09/30/202511/13/202510-Q
    06/30/202508/13/202510-Q
    03/31/202505/08/202510-Q
    12/31/202403/12/202510-K
    09/30/202411/14/202410-Q
    06/30/202408/14/202410-Q
    03/31/202405/15/202410-Q
    12/31/202303/25/202410-K
    09/30/202311/13/202310-Q
    06/30/202308/21/202310-Q
    03/31/202307/17/2023424B4
    03/31/202105/10/2021S-1/A

    Insider Activity

    Updated 6/15/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Happel, DavidPresident & CEODirectSell21220265.3612,10164,8653,632,252Form
    2Chauche, ThierryChief Financial OfficerDirectSell21220265.361,3127,03384,092Form
    3Martins, Eduardo BrunoChief Medical OfficerDirectSell21220265.363,64019,511553,687Form
    4Rozek, ElizabethChief Legal & Admin. OfficerDirectSell21220265.362,62214,0541,023,578Form
    5Kemble, GeorgeExecutive ChairmanDirectSell112120257.6937,688289,979623,269Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Happel, DavidPresident & CEODirectSell21220265.3612,10164,8653,632,252Form
    2Chauche, ThierryChief Financial OfficerDirectSell21220265.361,3127,03384,092Form
    3Martins, Eduardo BrunoChief Medical OfficerDirectSell21220265.363,64019,511553,687Form
    4Rozek, ElizabethChief Legal & Admin. OfficerDirectSell21220265.362,62214,0541,023,578Form
    5Kemble, GeorgeExecutive ChairmanDirectSell112120257.6937,688289,979623,269Form
    6Happel, DavidPresident & CEODirectSell72320259.1365,478598,1156,300,335Form
    7Martins, Eduardo BrunoChief Medical OfficerDirectSell72320259.138,27775,607976,818Form
    8Rozek, ElizabethGeneral Counsel and CCODirectSell72320259.1310,78098,4711,678,264Form

    Industry Resources

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