Sagimet Biosciences Inc. (NASDAQ:SGMT) Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. reduced its stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,290,512 shares of the company’s stock after selling 87,846 shares during the quarter. Alyeska Investment Group L.P.’s holdings in Sagimet Biosciences were worth $5,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Sagimet Biosciences by 14.3% in the 3rd quarter. Barclays PLC now owns 57,230 shares of the company’s stock worth $159,000 after acquiring an additional 7,178 shares during the period. Geode Capital Management LLC grew its holdings in Sagimet Biosciences by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 255,236 shares of the company’s stock valued at $1,149,000 after purchasing an additional 2,938 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Sagimet Biosciences by 66.2% in the third quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock valued at $199,000 after purchasing an additional 28,690 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Sagimet Biosciences in the fourth quarter valued at $90,000. Finally, 683 Capital Management LLC acquired a new position in shares of Sagimet Biosciences during the 4th quarter worth $622,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Sagimet Biosciences in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

Sagimet Biosciences Stock Down 6.3 %

NASDAQ SGMT opened at $3.59 on Tuesday. The stock has a market cap of $110.12 million, a price-to-earnings ratio of -2.51 and a beta of 2.32. Sagimet Biosciences Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $7.38. The business has a fifty day moving average of $3.12 and a 200-day moving average of $4.29.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Wednesday, March 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.15. As a group, analysts anticipate that Sagimet Biosciences Inc. will post -1.6 EPS for the current year.

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.