XTX Topco Ltd Sells 17,615 Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT)

XTX Topco Ltd reduced its position in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) by 29.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,548 shares of the company’s stock after selling 17,615 shares during the period. XTX Topco Ltd owned about 0.14% of Sagimet Biosciences worth $142,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SGMT. Federated Hermes Inc. boosted its position 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 acquiring an additional 14,000 shares during the last quarter. Ground Swell Capital LLC bought a new position in Sagimet Biosciences in the second quarter valued at $78,000. Acadian Asset Management LLC grew its position in 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. Victory Capital Management Inc. increased its stake in Sagimet Biosciences by 49.1% in the 2nd quarter. Victory Capital Management Inc. now owns 77,420 shares of the company’s stock valued at $265,000 after buying an additional 25,480 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new stake in Sagimet Biosciences during the 2nd quarter worth about $51,000. 87.86% of the stock is currently owned by institutional investors.

Sagimet Biosciences Price Performance

Shares of NASDAQ SGMT opened at $2.77 on Tuesday. The business’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $3.90. Sagimet Biosciences Inc. has a twelve month low of $2.13 and a twelve month high of $20.71.

Sagimet Biosciences (NASDAQ:SGMT) last posted its earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.09. As a group, equities research analysts expect that Sagimet Biosciences Inc. will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling at Sagimet Biosciences

In other news, insider Eduardo Bruno Martins sold 8,357 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $3.10, for a total transaction of $25,906.70. Following the completion of the sale, the insider now owns 81,213 shares in the company, valued at approximately $251,760.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Sagimet Biosciences news, General Counsel Elizabeth Rozek sold 10,914 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $3.10, for a total value of $33,833.40. Following the transaction, the general counsel now directly owns 160,506 shares of the company’s stock, valued at approximately $497,568.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eduardo Bruno Martins sold 8,357 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $3.10, for a total value of $25,906.70. Following the transaction, the insider now owns 81,213 shares in the company, valued at approximately $251,760.30. The disclosure for this sale can be found here. Insiders have sold a total of 56,958 shares of company stock worth $178,224 over the last ninety days. Insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SGMT shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $6.00 target price (down previously from $23.00) on shares of Sagimet Biosciences in a research report on Friday, June 28th. JMP Securities lowered their price target on Sagimet Biosciences from $48.00 to $32.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Sagimet Biosciences in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sagimet Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.