Sagimet Biosciences Inc. (NASDAQ:SGMT) Shares Sold by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP trimmed its position in Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,323,877 shares of the company's stock after selling 350,000 shares during the period. Sagimet Biosciences comprises about 1.4% of Blue Owl Capital Holdings LP's portfolio, making the stock its 17th largest holding. Blue Owl Capital Holdings LP owned approximately 4.32% of Sagimet Biosciences worth $5,957,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SGMT. Geode Capital Management LLC lifted its stake in shares of Sagimet Biosciences by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 255,236 shares of the company's stock worth $1,149,000 after buying an additional 2,938 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Sagimet Biosciences by 66.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company's stock worth $199,000 after purchasing an additional 28,690 shares in the last quarter. Barclays PLC lifted its stake in Sagimet Biosciences by 14.3% in the 3rd 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. Dimensional Fund Advisors LP acquired a new position in shares of Sagimet Biosciences during the 4th quarter worth approximately $114,000. Finally, Stoneridge Investment Partners LLC grew its position in shares of Sagimet Biosciences by 22.2% in the fourth quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company's stock valued at $94,000 after purchasing an additional 3,780 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sagimet Biosciences Price Performance

Shares of SGMT stock traded up $0.03 during trading on Friday, hitting $3.15. 474,081 shares of the stock traded hands, compared to its average volume of 862,725. Sagimet Biosciences Inc. has a 52-week low of $1.73 and a 52-week high of $7.38. The firm has a market capitalization of $96.63 million, a P/E ratio of -2.20 and a beta of 2.40. The firm's fifty day moving average price is $3.16 and its 200-day moving average price is $4.35.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.15. As a group, equities research analysts expect that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current year.

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.