Barclays PLC Boosts Stock Holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Barclays PLC grew its holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,230 shares of the company’s stock after purchasing an additional 7,178 shares during the period. Barclays PLC owned approximately 0.19% of Sagimet Biosciences worth $159,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in Sagimet Biosciences during the 2nd quarter valued at $324,000. Victory Capital Management Inc. grew its position in shares of Sagimet Biosciences by 49.1% in the second quarter. Victory Capital Management Inc. now owns 77,420 shares of the company’s stock valued at $265,000 after purchasing an additional 25,480 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Sagimet Biosciences by 96.0% during the 2nd quarter. Acadian Asset Management LLC now owns 68,451 shares of the company’s stock valued at $232,000 after purchasing an additional 33,522 shares during the period. Federated Hermes Inc. lifted its holdings in Sagimet Biosciences by 25.9% during the 2nd quarter. Federated Hermes Inc. now owns 68,000 shares of the company’s stock worth $233,000 after purchasing an additional 14,000 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Sagimet Biosciences in the 3rd quarter worth about $119,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Sagimet Biosciences Stock Down 17.8 %

Shares of SGMT opened at $5.57 on Wednesday. Sagimet Biosciences Inc. has a 1-year low of $2.39 and a 1-year high of $20.71. The firm’s 50 day simple moving average is $5.18 and its 200 day simple moving average is $4.11.

Wall Street Analyst Weigh In

SGMT has been the topic of several analyst reports. UBS Group began coverage on Sagimet Biosciences in a research report on Tuesday, November 12th. They set a “buy” rating and a $12.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Sagimet Biosciences in a report on Friday, November 15th. Finally, Oppenheimer assumed coverage on shares of Sagimet Biosciences in a report on Friday, December 6th. They issued an “outperform” rating and a $30.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.