Barclays PLC Acquires 7,178 Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT)

Barclays PLC grew its holdings in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,230 shares of the company’s stock after buying an additional 7,178 shares during the period. Barclays PLC’s holdings in Sagimet Biosciences were worth $159,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several brokerages recently issued reports on SGMT. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Sagimet Biosciences in a research note on Friday, November 15th. UBS Group assumed coverage on Sagimet Biosciences in a research note on Tuesday, November 12th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Oppenheimer initiated coverage on Sagimet Biosciences in a report on Friday, December 6th. They set an “outperform” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Sagimet Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $5.57 on Wednesday. Sagimet Biosciences Inc. has a 12 month low of $2.39 and a 12 month high of $20.71. The stock has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $4.11.

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.