Boothbay Fund Management LLC Decreases Stake in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Boothbay Fund Management LLC lowered its stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 89.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,518 shares of the company's stock after selling 102,433 shares during the quarter. Boothbay Fund Management LLC's holdings in Sagimet Biosciences were worth $56,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Sagimet Biosciences by 14.3% during 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 boosted its position in shares of Sagimet Biosciences by 56.7% during the third quarter. Geode Capital Management LLC now owns 252,298 shares of the company's stock valued at $699,000 after purchasing an additional 91,246 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Sagimet Biosciences by 66.2% in the third 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 period. Jacksonville Wealth Management LLC bought a new position in Sagimet Biosciences in the fourth quarter worth $45,000. Finally, Stoneridge Investment Partners LLC lifted its position in Sagimet Biosciences by 22.2% during the fourth quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company's stock valued at $94,000 after buying an additional 3,780 shares during the period. 87.86% of the stock is owned by institutional investors.

Sagimet Biosciences Price Performance

SGMT stock traded up $0.04 on Friday, reaching $3.24. 266,353 shares of the company traded hands, compared to its average volume of 860,445. The firm has a fifty day simple moving average of $3.10 and a 200-day simple moving average of $4.23. The company has a market cap of $99.39 million, a P/E ratio of -2.27 and a beta of 2.32. Sagimet Biosciences Inc. has a one year low of $1.73 and a one year high of $7.38.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.23. On average, sell-side analysts forecast 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 issued a $32.00 target price on shares of Sagimet Biosciences in a research report on Tuesday, March 11th. One investment 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 currently has an average rating of "Moderate Buy" and a consensus target price of $22.40.

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.