Federated Hermes Inc. boosted its position in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT – Free Report) by 24.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 97,276 shares of the company’s stock after purchasing an additional 19,276 shares during the quarter. Federated Hermes Inc. owned approximately 0.45% of Sagimet Biosciences worth $527,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new stake in shares of Sagimet Biosciences in the 3rd quarter worth about $220,000. Platinum Investment Management Ltd. acquired a new stake in shares of Sagimet Biosciences in the third quarter valued at approximately $3,378,000. Victory Capital Management Inc. acquired a new stake in shares of Sagimet Biosciences in the third quarter valued at approximately $158,000. New York State Common Retirement Fund purchased a new position in shares of Sagimet Biosciences during the 3rd quarter worth approximately $56,000. Finally, FMR LLC acquired a new position in shares of Sagimet Biosciences during the 3rd quarter worth approximately $23,517,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
Sagimet Biosciences Trading Down 2.9 %
Shares of SGMT opened at $4.32 on Friday. The company’s fifty day moving average is $5.08 and its two-hundred day moving average is $5.63. Sagimet Biosciences Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $20.71.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on SGMT
Insider Transactions at Sagimet Biosciences
In other news, CEO David Happel bought 12,100 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of $5.27 per share, for a total transaction of $63,767.00. Following the acquisition, the chief executive officer now owns 639,200 shares of the company’s stock, valued at $3,368,584. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.60% of the company’s stock.
Sagimet Biosciences 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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