Renaissance Technologies LLC Sells 220,300 Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT)

Renaissance Technologies LLC reduced its stake in Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 95.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,800 shares of the company's stock after selling 220,300 shares during the quarter. Renaissance Technologies LLC's holdings in Sagimet Biosciences were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Barclays PLC raised its position in shares of Sagimet Biosciences by 14.3% during the 3rd quarter. Barclays PLC now owns 57,230 shares of the company's stock valued at $159,000 after buying an additional 7,178 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sagimet Biosciences by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 255,236 shares of the company's stock worth $1,149,000 after purchasing an additional 2,938 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Sagimet Biosciences by 66.2% during 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 last quarter. American Century Companies Inc. purchased a new position in shares of Sagimet Biosciences in the 4th quarter worth about $90,000. Finally, Stoneridge Investment Partners LLC increased its position in shares of Sagimet Biosciences by 22.2% during the 4th quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company's stock valued at $94,000 after purchasing an additional 3,780 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors.

Sagimet Biosciences Stock Performance

SGMT stock traded down $0.12 during trading on Tuesday, hitting $3.19. 99,581 shares of the company traded hands, compared to its average volume of 856,194. The company has a 50-day moving average of $3.09 and a 200-day moving average of $4.21. Sagimet Biosciences Inc. has a 1 year low of $1.73 and a 1 year high of $7.38. The firm has a market capitalization of $97.85 million, a PE ratio of -2.23 and a beta of 2.32.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.23. Sell-side analysts expect that Sagimet Biosciences Inc. will post -1.6 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and set a $32.00 price target 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Sagimet Biosciences presently has an average rating of "Moderate Buy" and an average price target of $22.40.

Sagimet Biosciences Company 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.