ORG Wealth Partners LLC Lowers Position in Sagimet Biosciences Inc. (NASDAQ:SGMT)

ORG Wealth Partners LLC lessened its stake in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,448 shares of the company’s stock after selling 21,448 shares during the period. ORG Wealth Partners LLC owned about 0.07% of Sagimet Biosciences worth $97,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SGMT. Barclays PLC raised its holdings in shares of Sagimet Biosciences by 14.3% during 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 period. JPMorgan Chase & Co. raised its holdings in Sagimet Biosciences by 66.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock valued at $199,000 after buying an additional 28,690 shares during the period. Acadian Asset Management LLC grew its position in Sagimet Biosciences by 96.0% in the 2nd quarter. Acadian Asset Management LLC now owns 68,451 shares of the company’s stock valued at $232,000 after acquiring an additional 33,522 shares in the last quarter. Federated Hermes Inc. grew its position in Sagimet Biosciences by 25.9% in the 2nd quarter. Federated Hermes Inc. now owns 68,000 shares of the company’s stock valued at $233,000 after acquiring an additional 14,000 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position 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 acquiring an additional 25,480 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Sagimet Biosciences Stock Down 3.5 %

SGMT opened at $5.18 on Friday. Sagimet Biosciences Inc. has a 52 week low of $2.39 and a 52 week high of $20.71. The business’s fifty day simple moving average is $5.18 and its 200 day simple moving average is $4.13.

Wall Street Analysts Forecast Growth

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

About Sagimet Biosciences

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.