Stoneridge Investment Partners LLC Boosts Stake in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Stoneridge Investment Partners LLC lifted its stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) by 22.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,836 shares of the company’s stock after buying an additional 3,780 shares during the period. Stoneridge Investment Partners LLC’s holdings in Sagimet Biosciences were worth $94,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SGMT. Squarepoint Ops LLC acquired a new stake in Sagimet Biosciences during the 2nd quarter worth about $324,000. ORG Wealth Partners LLC acquired a new position in shares of Sagimet Biosciences in the third quarter valued at about $119,000. 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 worth $159,000 after purchasing an additional 7,178 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sagimet Biosciences by 56.7% during the third 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 during the period. Finally, JPMorgan Chase & Co. boosted its position in Sagimet Biosciences by 66.2% in the third quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock valued at $199,000 after buying an additional 28,690 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

Sagimet Biosciences Trading Down 3.0 %

SGMT opened at $4.57 on Friday. The firm has a fifty day moving average price of $4.82 and a 200 day moving average price of $4.30. Sagimet Biosciences Inc. has a 1 year low of $2.39 and a 1 year high of $8.75.

Wall Street Analyst Weigh In

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