Sagimet Biosciences (NASDAQ:SGMT) Receives Buy Rating from HC Wainwright

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $32.00 price objective on the stock.

SGMT has been the subject of a number of other reports. UBS Group assumed coverage on shares of Sagimet Biosciences in a report on Tuesday, November 12th. They set a "buy" rating and a $12.00 price target for the company. Oppenheimer began coverage on shares of Sagimet Biosciences in a research note on Friday, December 6th. They issued an "outperform" rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Sagimet Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Sagimet Biosciences Price Performance

SGMT stock traded down $0.19 on Tuesday, reaching $3.35. The company had a trading volume of 270,072 shares, compared to its average volume of 1,012,246. The company's fifty day moving average is $4.36 and its 200 day moving average is $4.45. Sagimet Biosciences has a 1 year low of $2.39 and a 1 year high of $7.38.

Institutional Trading of Sagimet Biosciences

Several institutional investors have recently made changes to their positions in SGMT. Squarepoint Ops LLC boosted its holdings in Sagimet Biosciences by 72.4% in the fourth quarter. Squarepoint Ops LLC now owns 50,484 shares of the company's stock valued at $227,000 after acquiring an additional 21,195 shares during the last quarter. Shay Capital LLC purchased a new position in shares of Sagimet Biosciences in the 4th quarter worth about $87,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Sagimet Biosciences in the 4th quarter valued at about $263,000. Millennium Management LLC grew its holdings in shares of Sagimet Biosciences by 257.1% during the 4th quarter. Millennium Management LLC now owns 693,247 shares of the company's stock worth $3,120,000 after purchasing an additional 499,094 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in Sagimet Biosciences by 62.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 224,100 shares of the company's stock worth $1,008,000 after purchasing an additional 85,800 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

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.

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