Blue Owl Capital Holdings LP Lowers Position in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Blue Owl Capital Holdings LP reduced its stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 20.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,323,877 shares of the company's stock after selling 350,000 shares during the period. Sagimet Biosciences makes up 1.4% of Blue Owl Capital Holdings LP's investment portfolio, making the stock its 17th biggest position. Blue Owl Capital Holdings LP owned about 4.32% of Sagimet Biosciences worth $5,957,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN purchased a new position in Sagimet Biosciences in the 4th quarter worth $31,000. Jacksonville Wealth Management LLC purchased a new position in Sagimet Biosciences in the 4th quarter worth $45,000. Summit Financial Wealth Advisors LLC purchased a new position in Sagimet Biosciences in the 4th quarter worth $61,000. American Century Companies Inc. purchased a new position in Sagimet Biosciences in the 4th quarter worth $90,000. Finally, Stoneridge Investment Partners LLC raised its position in Sagimet Biosciences by 22.2% in the 4th quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company's stock worth $94,000 after purchasing an additional 3,780 shares during the period. 87.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a "buy" rating and issued a $32.00 target price 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 assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.40.

Sagimet Biosciences Trading Up 0.5 %

Shares of SGMT stock traded up $0.02 during mid-day trading on Tuesday, reaching $3.33. The stock had a trading volume of 206,062 shares, compared to its average volume of 858,532. The stock's 50-day moving average price is $3.15 and its two-hundred day moving average price is $4.35. Sagimet Biosciences Inc. has a 52-week low of $1.73 and a 52-week high of $7.38. The firm has a market capitalization of $102.03 million, a PE ratio of -2.33 and a beta of 2.40.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last released its quarterly earnings data 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. On average, equities research analysts forecast that Sagimet Biosciences Inc. will post -1.6 earnings per share 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.