Sagimet Biosciences Inc. (NASDAQ:SGMT) Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. reduced its stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,290,512 shares of the company's stock after selling 87,846 shares during the quarter. Alyeska Investment Group L.P. owned 4.21% of Sagimet Biosciences worth $5,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its holdings 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 buying an additional 2,938 shares in the last quarter. Stoneridge Investment Partners LLC boosted its stake 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 worth $94,000 after acquiring an additional 3,780 shares in the last quarter. Wells Fargo & Company MN acquired a new stake in shares of Sagimet Biosciences during the 4th quarter valued at about $31,000. Barclays PLC increased its stake in shares of Sagimet Biosciences by 14.3% in the 3rd quarter. Barclays PLC now owns 57,230 shares of the company's stock valued at $159,000 after purchasing an additional 7,178 shares in the last quarter. Finally, Jacksonville Wealth Management LLC acquired a new position in Sagimet Biosciences in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 87.86% of the company's stock.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and issued a $32.00 price objective 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, the stock has an average rating of "Moderate Buy" and an average target price of $22.40.

Sagimet Biosciences Stock Up 1.3 %

Shares of Sagimet Biosciences stock traded up $0.04 during mid-day trading on Friday, reaching $3.24. 266,353 shares of the stock traded hands, compared to its average volume of 858,499. The business has a 50-day moving average of $3.10 and a 200 day moving average of $4.24. Sagimet Biosciences Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $7.38. The stock has a market capitalization of $99.39 million, a PE ratio of -2.27 and a beta of 2.32.

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