Platinum Investment Management Ltd. bought a new position in Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 383,913 shares of the company's stock, valued at approximately $3,378,000. Platinum Investment Management Ltd. owned about 1.80% of Sagimet Biosciences as of its most recent filing with the Securities & Exchange Commission.
Separately, Teacher Retirement System of Texas purchased a new position in Sagimet Biosciences in the third quarter worth about $220,000.
Analyst Upgrades and Downgrades
Separately, JMP Securities reissued a "market outperform" rating and set a $31.00 price objective on shares of Sagimet Biosciences in a report on Tuesday, December 5th.
Get Our Latest Stock Analysis on SGMT
Sagimet Biosciences Price Performance
SGMT opened at $6.82 on Friday. The firm's 50 day moving average is $4.88. Sagimet Biosciences Inc. has a twelve month low of $2.13 and a twelve month high of $18.33.
Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last released its quarterly earnings data on Monday, November 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.67. The company had revenue of $2.00 million for the quarter. As a group, research analysts predict that Sagimet Biosciences Inc. will post -20.25 EPS for the current fiscal year.
Sagimet Biosciences Company Profile
(
Free Report)
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 lipid metabolism pathways. Its lead drug candidate is Denifanstat, a FASN inhibitor for the treatment of nonalcoholic steatohepatitis and acne.
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