Baker BROS. Advisors LP Lowers Position in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Baker BROS. Advisors LP decreased its position in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 31.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 952,996 shares of the company's stock after selling 428,902 shares during the period. Baker BROS. Advisors LP owned 3.11% of Sagimet Biosciences worth $4,288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SGMT. Wells Fargo & Company MN purchased a new stake in shares of Sagimet Biosciences during the 4th quarter valued at $31,000. Jacksonville Wealth Management LLC purchased a new stake in shares of Sagimet Biosciences during the fourth quarter worth about $45,000. Summit Financial Wealth Advisors LLC purchased a new position in shares of Sagimet Biosciences in the 4th quarter valued at approximately $61,000. American Century Companies Inc. acquired a new stake in Sagimet Biosciences in the 4th quarter worth approximately $90,000. Finally, Stoneridge Investment Partners LLC grew its position in 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 purchasing an additional 3,780 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $32.00 price target on shares of Sagimet Biosciences in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.40.

Sagimet Biosciences Stock Performance

NASDAQ SGMT traded up $0.07 during trading hours on Friday, reaching $3.27. The stock had a trading volume of 228,667 shares, compared to its average volume of 856,518. Sagimet Biosciences Inc. has a 52-week low of $1.73 and a 52-week high of $7.38. The stock has a fifty day moving average of $3.10 and a 200 day moving average of $4.26. The stock has a market cap of $100.31 million, a P/E ratio of -2.29 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 the consensus estimate of ($0.79) by $0.23. On average, equities research analysts forecast 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.