Sagimet Biosciences Inc. (NASDAQ:SGMT) Shares Sold by ORG Wealth Partners LLC

ORG Wealth Partners LLC decreased its position in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,448 shares of the company’s stock after selling 21,448 shares during the quarter. ORG Wealth Partners LLC’s holdings in Sagimet Biosciences were worth $97,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SGMT. JPMorgan Chase & Co. lifted its holdings 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. Barclays PLC raised its stake in Sagimet Biosciences by 14.3% during the 3rd quarter. Barclays PLC now owns 57,230 shares of the company’s stock valued at $159,000 after acquiring an additional 7,178 shares in the last quarter. Geode Capital Management LLC raised its stake in Sagimet Biosciences by 56.7% during the 3rd quarter. Geode Capital Management LLC now owns 252,298 shares of the company’s stock valued at $699,000 after acquiring an additional 91,246 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Sagimet Biosciences during the 2nd quarter valued at $324,000. Finally, Federated Hermes Inc. raised its stake in shares of Sagimet Biosciences by 25.9% in the 2nd quarter. Federated Hermes Inc. now owns 68,000 shares of the company’s stock worth $233,000 after buying an additional 14,000 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Sagimet Biosciences Stock Down 3.5 %

Shares of NASDAQ:SGMT opened at $5.18 on Friday. Sagimet Biosciences Inc. has a fifty-two week low of $2.39 and a fifty-two week high of $20.71. The business has a 50-day moving average of $5.18 and a two-hundred day moving average of $4.13.

Analysts Set New Price Targets

SGMT has been the topic of a number of research reports. UBS Group initiated coverage on Sagimet Biosciences in a research note on Tuesday, November 12th. They issued a “buy” rating and a $12.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Sagimet Biosciences in a research note on Friday, November 15th. Finally, Oppenheimer initiated coverage on Sagimet Biosciences in a research note on Friday, December 6th. They issued an “outperform” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sagimet Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target 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.