Sagimet Biosciences Inc. (NASDAQ:SGMT) Shares Sold by FNY Investment Advisers LLC

FNY Investment Advisers LLC lessened its position in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 12.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 130,250 shares of the company’s stock after selling 17,707 shares during the period. FNY Investment Advisers LLC owned approximately 0.42% of Sagimet Biosciences worth $586,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new stake in shares of Sagimet Biosciences in the third quarter valued at approximately $119,000. Barclays PLC lifted its stake in shares of Sagimet Biosciences by 14.3% in the third quarter. Barclays PLC now owns 57,230 shares of the company’s stock worth $159,000 after acquiring an additional 7,178 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Sagimet Biosciences by 25.9% during the 2nd quarter. Federated Hermes Inc. now owns 68,000 shares of the company’s stock valued at $233,000 after buying an additional 14,000 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Sagimet Biosciences by 96.0% in the second quarter. Acadian Asset Management LLC now owns 68,451 shares of the company’s stock worth $232,000 after buying an additional 33,522 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Sagimet Biosciences by 66.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock worth $199,000 after purchasing an additional 28,690 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $4.57 on Tuesday. Sagimet Biosciences Inc. has a fifty-two week low of $2.39 and a fifty-two week high of $20.71. The firm has a fifty day moving average price of $5.16 and a two-hundred day moving average price of $4.14.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SGMT. UBS Group assumed coverage on Sagimet Biosciences in a report on Tuesday, November 12th. They issued a “buy” rating and a $12.00 price target for the company. Oppenheimer began coverage on shares of Sagimet Biosciences in a research report on Friday, December 6th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Sagimet Biosciences in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Sagimet Biosciences 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.