Two Sigma Investments LP Has $227,000 Stock Position in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Two Sigma Investments LP lessened its stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 72.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 approximately 0.16% of Sagimet Biosciences worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Sagimet Biosciences by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 255,236 shares of the company's stock valued at $1,149,000 after purchasing an additional 2,938 shares in the last quarter. Wells Fargo & Company MN acquired a new position in shares of Sagimet Biosciences in the 4th quarter valued at about $31,000. Summit Financial Wealth Advisors LLC acquired a new position in shares of Sagimet Biosciences in the 4th quarter valued at about $61,000. Shay Capital LLC acquired a new position in shares of Sagimet Biosciences in the 4th quarter valued at about $87,000. Finally, American Century Companies Inc. acquired a new position in shares of Sagimet Biosciences in the 4th quarter valued at about $90,000. Hedge funds and other institutional investors own 87.86% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on SGMT. Jones Trading raised their target price on Sagimet Biosciences from $15.00 to $27.00 and gave the company a "buy" rating in a report on Friday, June 6th. HC Wainwright reiterated a "buy" rating and set a $32.00 target price 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $23.17.

Sagimet Biosciences Stock Performance

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

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.23. On average, equities research analysts predict 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.