Stoneridge Investment Partners LLC Grows Holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Stoneridge Investment Partners LLC raised its holdings in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) by 22.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,836 shares of the company’s stock after purchasing an additional 3,780 shares during the quarter. Stoneridge Investment Partners LLC owned 0.07% of Sagimet Biosciences worth $94,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SGMT. Geode Capital Management LLC lifted its holdings in Sagimet Biosciences by 56.7% during the 3rd quarter. Geode Capital Management LLC now owns 252,298 shares of the company’s stock valued at $699,000 after buying an additional 91,246 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Sagimet Biosciences during the second quarter worth approximately $324,000. JPMorgan Chase & Co. raised its stake in shares of Sagimet Biosciences by 66.2% during the third quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock valued at $199,000 after acquiring an additional 28,690 shares in the last quarter. Barclays PLC boosted its holdings 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 during the period. Finally, ORG Wealth Partners LLC bought a new position in Sagimet Biosciences in the third quarter worth approximately $119,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sagimet Biosciences Price Performance

SGMT opened at $4.57 on Friday. Sagimet Biosciences Inc. has a 12 month low of $2.39 and a 12 month high of $8.75. The stock has a fifty day moving average price of $4.82 and a 200-day moving average price of $4.30.

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.