Geode Capital Management LLC grew its holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT – Free Report) by 56.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,298 shares of the company’s stock after acquiring an additional 91,246 shares during the quarter. Geode Capital Management LLC owned 0.82% of Sagimet Biosciences worth $699,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of SGMT. Barclays PLC raised its stake in shares of Sagimet Biosciences by 14.3% in the third 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. Federated Hermes Inc. raised its stake in shares of Sagimet Biosciences by 25.9% in the second quarter. Federated Hermes Inc. now owns 68,000 shares of the company’s stock valued at $233,000 after purchasing an additional 14,000 shares in the last quarter. Victory Capital Management Inc. raised its stake 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% in the second 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 in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Sagimet Biosciences in the third quarter valued at $119,000. 87.86% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have issued reports on SGMT. Oppenheimer began coverage on Sagimet Biosciences in a research note on Friday, December 6th. They set an “outperform” rating and a $30.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Sagimet Biosciences in a research note on Friday, November 15th. Finally, UBS Group began coverage on Sagimet Biosciences in a research note on Tuesday, November 12th. They set a “buy” rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.
Sagimet Biosciences Stock Performance
Shares of NASDAQ:SGMT opened at $5.18 on Friday. Sagimet Biosciences Inc. has a twelve month low of $2.39 and a twelve month high of $20.71. The business has a fifty day moving average of $5.18 and a 200-day moving average of $4.14.
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.
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