OMERS ADMINISTRATION Corp Acquires Shares of 58,500 Sagimet Biosciences Inc. (NASDAQ:SGMT)

OMERS ADMINISTRATION Corp acquired a new stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 58,500 shares of the company’s stock, valued at approximately $263,000.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in Sagimet Biosciences by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 255,236 shares of the company’s stock valued at $1,149,000 after acquiring an additional 2,938 shares in the last quarter. Wells Fargo & Company MN bought a new stake in Sagimet Biosciences during the 4th quarter valued at approximately $31,000. Dimensional Fund Advisors LP bought a new stake in Sagimet Biosciences during the 4th quarter valued at approximately $114,000. JPMorgan Chase & Co. boosted its position in Sagimet Biosciences by 66.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock valued at $199,000 after acquiring an additional 28,690 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in Sagimet Biosciences during the 4th quarter valued at approximately $90,000. 87.86% of the stock is owned by institutional investors.

Sagimet Biosciences Stock Up 6.5%

Shares of SGMT opened at $3.43 on Tuesday. The business’s 50 day moving average price is $3.06 and its 200-day moving average price is $4.13. Sagimet Biosciences Inc. has a 52 week low of $1.73 and a 52 week high of $7.38. The stock has a market cap of $105.22 million, a P/E ratio of -1.95 and a beta of 2.32.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.23. On average, equities analysts anticipate that Sagimet Biosciences Inc. will post -1.6 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Sagimet Biosciences in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

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.