683 Capital Management LLC Invests $622,000 in Sagimet Biosciences Inc. (NASDAQ:SGMT)

683 Capital Management LLC acquired a new position in Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 138,263 shares of the company's stock, valued at approximately $622,000. 683 Capital Management LLC owned 0.45% of Sagimet Biosciences at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 2,938 shares during the period. JPMorgan Chase & Co. increased 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 valued at $199,000 after acquiring an additional 28,690 shares during the last quarter. Barclays PLC raised its holdings in shares of Sagimet Biosciences by 14.3% during the third quarter. Barclays PLC now owns 57,230 shares of the company's stock worth $159,000 after purchasing an additional 7,178 shares during the period. Jane Street Group LLC acquired a new stake in Sagimet Biosciences during the fourth quarter worth about $249,000. Finally, Dimensional Fund Advisors LP bought a new position in Sagimet Biosciences during the 4th quarter worth $114,000. Institutional investors and hedge funds own 87.86% of the company's stock.

Sagimet Biosciences Stock Performance

Shares of NASDAQ:SGMT traded up $0.08 during trading hours on Wednesday, hitting $3.35. 73,233 shares of the company's stock traded hands, compared to its average volume of 856,384. Sagimet Biosciences Inc. has a 52 week low of $1.73 and a 52 week high of $7.38. The company has a market cap of $102.76 million, a price-to-earnings ratio of -2.36 and a beta of 2.32. The company's fifty day simple moving average is $3.11 and its two-hundred day simple moving average is $4.28.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.65) by $0.15. On average, analysts anticipate that Sagimet Biosciences Inc. will post -1.6 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a "buy" rating and set a $32.00 target price on shares of Sagimet Biosciences in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.