117,259 Shares in Sagimet Biosciences Inc. $SGMT Acquired by AlphaQuest LLC

AlphaQuest LLC bought a new position in Sagimet Biosciences Inc. (NASDAQ:SGMT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 117,259 shares of the company’s stock, valued at approximately $804,000. AlphaQuest LLC owned approximately 0.36% of Sagimet Biosciences at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd bought a new stake in Sagimet Biosciences in the second quarter valued at approximately $41,000. Bank of America Corp DE increased its position in shares of Sagimet Biosciences by 81.8% in the second quarter. Bank of America Corp DE now owns 9,943 shares of the company’s stock valued at $76,000 after acquiring an additional 4,473 shares during the period. NewEdge Advisors LLC bought a new position in shares of Sagimet Biosciences during the first quarter valued at about $105,000. XTX Topco Ltd boosted its holdings in shares of Sagimet Biosciences by 137.0% during the second quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock worth $195,000 after purchasing an additional 14,813 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Sagimet Biosciences by 9,168.2% in the second quarter. BNP Paribas Financial Markets now owns 26,785 shares of the company’s stock worth $204,000 after purchasing an additional 26,496 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Guggenheim started coverage on shares of Sagimet Biosciences in a report on Tuesday. They issued a “buy” rating and a $27.00 price objective for the company. Barclays started coverage on shares of Sagimet Biosciences in a research report on Tuesday, January 27th. They issued an “equal weight” rating and a $8.00 target price on the stock. Citigroup reissued an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Sagimet Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $6.23 on Tuesday. Sagimet Biosciences Inc. has a one year low of $1.73 and a one year high of $11.41. The business’s fifty day moving average is $6.17 and its 200 day moving average is $7.24. The stock has a market capitalization of $202.60 million, a PE ratio of -3.50 and a beta of 3.39.

Sagimet Biosciences (NASDAQ:SGMT) last posted its earnings results on Thursday, November 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.01. As a group, sell-side analysts expect that Sagimet Biosciences Inc. will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman George Kemble sold 37,688 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $7.69, for a total transaction of $289,820.72. Following the completion of the sale, the chairman owned 81,005 shares of the company’s stock, valued at $622,928.45. This represents a 31.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 14.70% of the company’s stock.

About Sagimet Biosciences

Sagimet Biosciences (NASDAQ: SGMT) is a clinical-stage biotechnology company focused on developing novel therapies for fibrotic diseases. The company’s lead program, CM-101, is a first-in-class fusion protein designed to neutralize the chemokine CCL24 and interrupt key drivers of tissue fibrosis. Preclinical data have demonstrated CM-101’s potential to block fibrotic signaling pathways in multiple organ systems, and the company has advanced the program into early-stage clinical evaluation for indications such as nonalcoholic steatohepatitis and systemic sclerosis.

In addition to CM-101, Sagimet maintains a pipeline of preclinical candidates targeting inflammation-driven fibrotic processes.