FNY Investment Advisers LLC Has $586,000 Stock Holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT)

FNY Investment Advisers LLC reduced its holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 12.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 130,250 shares of the company’s stock after selling 17,707 shares during the quarter. FNY Investment Advisers LLC’s holdings in Sagimet Biosciences were worth $586,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in Sagimet Biosciences during the third quarter valued at approximately $119,000. Barclays PLC boosted its position in shares of Sagimet Biosciences by 14.3% during the third quarter. Barclays PLC now owns 57,230 shares of the company’s stock worth $159,000 after purchasing an additional 7,178 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of 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 buying an additional 14,000 shares during the period. Acadian Asset Management LLC grew its holdings in shares of 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 buying an additional 33,522 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Sagimet Biosciences Price Performance

SGMT opened at $4.57 on Tuesday. Sagimet Biosciences Inc. has a fifty-two week low of $2.39 and a fifty-two week high of $20.71. The company’s 50 day moving average price is $5.16 and its two-hundred day moving average price is $4.14.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Oppenheimer assumed coverage on Sagimet Biosciences in a report on Friday, December 6th. They issued an “outperform” rating and a $30.00 price target for the company. HC Wainwright reissued 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 began coverage on shares of Sagimet Biosciences in a research report on Tuesday, November 12th. They issued a “buy” rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.00.

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.