Sagimet Biosciences Inc. (NASDAQ:SGMT) Shares Sold by Baker BROS. Advisors LP

Baker BROS. Advisors LP lessened its holdings in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 31.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 952,996 shares of the company's stock after selling 428,902 shares during the period. Baker BROS. Advisors LP owned about 3.11% of Sagimet Biosciences worth $4,288,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its stake in Sagimet Biosciences by 14.3% in the 3rd quarter. Barclays PLC now owns 57,230 shares of the company's stock worth $159,000 after buying an additional 7,178 shares during the period. Geode Capital Management LLC boosted its position in shares of Sagimet Biosciences by 56.7% in the 3rd quarter. Geode Capital Management LLC now owns 252,298 shares of the company's stock worth $699,000 after purchasing an additional 91,246 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 28,690 shares during the last quarter. Jacksonville Wealth Management LLC acquired a new position in Sagimet Biosciences during the 4th quarter valued at approximately $45,000. Finally, Stoneridge Investment Partners LLC raised its stake in Sagimet Biosciences by 22.2% in 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 during the last quarter. Institutional investors own 87.86% of the company's stock.

Sagimet Biosciences Price Performance

NASDAQ SGMT traded down $0.32 during trading hours on Tuesday, reaching $3.27. The company's stock had a trading volume of 430,044 shares, compared to its average volume of 859,501. Sagimet Biosciences Inc. has a 1-year low of $1.73 and a 1-year high of $7.38. The company's 50-day moving average is $3.11 and its two-hundred day moving average is $4.28. The firm has a market capitalization of $100.31 million, a price-to-earnings ratio of -2.29 and a beta of 2.32.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last announced its earnings results on Wednesday, March 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.65) by $0.15. Equities analysts forecast that Sagimet Biosciences Inc. will post -1.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.