Sagimet Biosciences Inc. (NASDAQ:SGMT) Shares Purchased by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC raised its position in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 62.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,100 shares of the company’s stock after purchasing an additional 85,800 shares during the quarter. Bridgeway Capital Management LLC owned about 0.73% of Sagimet Biosciences worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in Sagimet Biosciences in the 4th quarter valued at approximately $31,000. Jacksonville Wealth Management LLC acquired a new stake in Sagimet Biosciences in the fourth quarter worth about $45,000. Summit Financial Wealth Advisors LLC bought a new position in Sagimet Biosciences in the 4th quarter valued at about $61,000. American Century Companies Inc. acquired a new position in Sagimet Biosciences during the 4th quarter valued at about $90,000. Finally, Stoneridge Investment Partners LLC raised its position in shares of Sagimet Biosciences by 22.2% during the 4th quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company’s stock worth $94,000 after buying an additional 3,780 shares in the last quarter. Institutional investors own 87.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Sagimet Biosciences in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Sagimet Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $22.40.

Sagimet Biosciences Trading Up 1.3 %

NASDAQ:SGMT opened at $3.24 on Friday. The company has a 50-day moving average of $3.10 and a 200-day moving average of $4.23. The firm has a market cap of $99.39 million, a price-to-earnings ratio of -2.27 and a beta of 2.32. Sagimet Biosciences Inc. has a twelve month low of $1.73 and a twelve month high of $7.38.

Sagimet Biosciences (NASDAQ:SGMT) last issued its earnings results on Thursday, May 8th. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.23. On average, research analysts forecast that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current year.

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.