Virtu Financial LLC Sells 17,677 Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT)

Virtu Financial LLC trimmed its stake in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 34.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,166 shares of the company’s stock after selling 17,677 shares during the period. Virtu Financial LLC’s holdings in Sagimet Biosciences were worth $95,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SGMT. Geode Capital Management LLC grew its holdings in Sagimet Biosciences by 56.7% during the third quarter. Geode Capital Management LLC now owns 252,298 shares of the company’s stock valued at $699,000 after purchasing an additional 91,246 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Sagimet Biosciences in the 2nd quarter valued at $324,000. Victory Capital Management Inc. raised its holdings in Sagimet Biosciences by 49.1% in the 2nd quarter. Victory Capital Management Inc. now owns 77,420 shares of the company’s stock worth $265,000 after acquiring an additional 25,480 shares during the period. Acadian Asset Management LLC raised its holdings in Sagimet Biosciences by 96.0% in the 2nd quarter. Acadian Asset Management LLC now owns 68,451 shares of the company’s stock worth $232,000 after acquiring an additional 33,522 shares during the period. Finally, Federated Hermes Inc. lifted its position in Sagimet Biosciences by 25.9% during the 2nd quarter. Federated Hermes Inc. now owns 68,000 shares of the company’s stock worth $233,000 after acquiring an additional 14,000 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sagimet Biosciences Trading Down 3.4 %

Shares of SGMT stock opened at $5.07 on Friday. Sagimet Biosciences Inc. has a 12 month low of $2.39 and a 12 month high of $20.71. The stock has a 50 day moving average of $5.29 and a two-hundred day moving average of $4.08.

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.