AlphaQuest LLC Makes New $804,000 Investment in Sagimet Biosciences Inc. $SGMT

AlphaQuest LLC acquired a new stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) in the third quarter, HoldingsChannel reports. The institutional investor acquired 117,259 shares of the company’s stock, valued at approximately $804,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd purchased a new position in Sagimet Biosciences during the second quarter valued at approximately $41,000. Bank of America Corp DE boosted its holdings in Sagimet Biosciences by 81.8% in the 2nd quarter. Bank of America Corp DE now owns 9,943 shares of the company’s stock worth $76,000 after buying an additional 4,473 shares during the period. XTX Topco Ltd increased its stake in Sagimet Biosciences by 137.0% in the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock worth $195,000 after buying an additional 14,813 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Sagimet Biosciences by 9,168.2% during the second quarter. BNP Paribas Financial Markets now owns 26,785 shares of the company’s stock valued at $204,000 after acquiring an additional 26,496 shares during the period. Finally, Bailard Inc. bought a new stake in Sagimet Biosciences during the second quarter valued at about $221,000. Institutional investors own 87.86% of the company’s stock.

Sagimet Biosciences Trading Up 9.9%

Sagimet Biosciences stock opened at $6.23 on Tuesday. Sagimet Biosciences Inc. has a 12-month low of $1.73 and a 12-month high of $11.41. The firm has a 50-day moving average price of $6.17 and a 200-day moving average price of $7.24. The firm 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 announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.01. As a group, sell-side analysts predict that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SGMT has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sagimet Biosciences in a research report on Thursday, January 22nd. Wall Street Zen downgraded Sagimet Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Citizens Jmp upped their price target on shares of Sagimet Biosciences from $33.00 to $35.00 and gave the company a “market outperform” rating in a research note on Friday, November 14th. Zacks Research cut shares of Sagimet Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Guggenheim started coverage on shares of Sagimet Biosciences in a report on Tuesday. They issued a “buy” rating and a $27.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sagimet Biosciences has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Insider Transactions at Sagimet Biosciences

In related news, Chairman George Kemble sold 37,688 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $7.69, for a total transaction of $289,820.72. Following the completion of the transaction, the chairman owned 81,005 shares in the company, valued at $622,928.45. The trade was a 31.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.70% of the stock is currently owned by insiders.

Sagimet Biosciences Company Profile

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.