Sagimet Biosciences Inc. (NASDAQ:SGMT) Shares Sold by Virtu Financial LLC

Virtu Financial LLC decreased its holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 34.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,166 shares of the company’s stock after selling 17,677 shares during the quarter. Virtu Financial LLC owned 0.11% of Sagimet Biosciences worth $95,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Barclays PLC grew its holdings in shares of Sagimet Biosciences by 14.3% in the 3rd quarter. Barclays PLC now owns 57,230 shares of the company’s stock worth $159,000 after acquiring an additional 7,178 shares during the last quarter. Federated Hermes Inc. increased its stake in Sagimet Biosciences by 25.9% in the 2nd quarter. Federated Hermes Inc. now owns 68,000 shares of the company’s stock worth $233,000 after purchasing an additional 14,000 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in Sagimet Biosciences in the 2nd quarter worth about $51,000. Ground Swell Capital LLC acquired a new stake in Sagimet Biosciences during the 2nd quarter worth about $78,000. Finally, Victory Capital Management Inc. lifted its stake in Sagimet Biosciences by 49.1% during the second 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 in the last quarter. Institutional investors own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sagimet Biosciences Trading Down 3.4 %

Shares of NASDAQ:SGMT opened at $5.07 on Friday. The business has a fifty day simple moving average of $5.29 and a 200 day simple moving average of $4.08. Sagimet Biosciences Inc. has a 1 year low of $2.39 and a 1 year high of $20.71.

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.