Two Sigma Investments LP Lowers Stake in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Two Sigma Investments LP lowered its stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 72.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,433 shares of the company's stock after selling 133,205 shares during the quarter. Two Sigma Investments LP owned 0.16% of Sagimet Biosciences worth $227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wells Fargo & Company MN bought a new position in shares of Sagimet Biosciences during the 4th quarter valued at $31,000. Summit Financial Wealth Advisors LLC bought a new position in shares of Sagimet Biosciences during the 4th quarter valued at $61,000. Shay Capital LLC bought a new position in shares of Sagimet Biosciences during the 4th quarter valued at $87,000. American Century Companies Inc. bought a new position in shares of Sagimet Biosciences during the 4th quarter valued at $90,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Sagimet Biosciences during the 4th quarter valued at $114,000. Hedge funds and other institutional investors own 87.86% of the company's stock.

Analyst Ratings Changes

SGMT has been the topic of several recent research reports. Jones Trading increased their target price on shares of Sagimet Biosciences from $15.00 to $27.00 and gave the company a "buy" rating in a report on Friday, June 6th. HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Sagimet Biosciences in a report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.17.

Sagimet Biosciences Stock Down 3.9%

Shares of SGMT traded down $0.34 during trading hours on Friday, reaching $8.27. 5,290,976 shares of the company traded hands, compared to its average volume of 1,034,215. The company's fifty day moving average price is $3.54 and its two-hundred day moving average price is $4.04. The company has a market capitalization of $253.68 million, a price-to-earnings ratio of -4.70 and a beta of 2.21. Sagimet Biosciences Inc. has a 12 month low of $1.73 and a 12 month high of $9.60.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.56) earnings per share for the quarter, beating analysts' consensus estimates of ($0.79) by $0.23. On average, analysts expect that Sagimet Biosciences Inc. will post -1.6 EPS for the current year.

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.