Jacksonville Wealth Management LLC Buys Shares of 10,000 Sagimet Biosciences Inc. (NASDAQ:SGMT)

Jacksonville Wealth Management LLC purchased a new position in shares of Sagimet Biosciences Inc. (NASDAQ:SGMTFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SGMT. ORG Wealth Partners LLC acquired a new position in Sagimet Biosciences during the third quarter valued at approximately $119,000. Barclays PLC raised its holdings in shares of Sagimet Biosciences by 14.3% during the 3rd quarter. Barclays PLC now owns 57,230 shares of the company’s stock worth $159,000 after buying an additional 7,178 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sagimet Biosciences by 66.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock worth $199,000 after buying an additional 28,690 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Sagimet Biosciences in the second quarter valued at about $324,000. Finally, Geode Capital Management LLC grew its position in Sagimet Biosciences by 56.7% in the third quarter. Geode Capital Management LLC now owns 252,298 shares of the company’s stock valued at $699,000 after acquiring an additional 91,246 shares during the last quarter. Institutional investors own 87.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Sagimet Biosciences in a report on Tuesday, November 12th. They issued a “buy” rating and a $12.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Sagimet Biosciences in a research note on Friday, November 15th. Finally, Oppenheimer began coverage on shares of Sagimet Biosciences in a research note on Friday, December 6th. They set an “outperform” rating and a $30.00 target price on the stock. One 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, Sagimet Biosciences has a consensus rating of “Moderate Buy” and an average target price of $23.00.

View Our Latest Stock Report on Sagimet Biosciences

Sagimet Biosciences Price Performance

SGMT opened at $4.20 on Friday. Sagimet Biosciences Inc. has a fifty-two week low of $2.39 and a fifty-two week high of $16.68. The company’s 50 day moving average price is $4.89 and its two-hundred day moving average price is $4.21.

Sagimet Biosciences Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Sagimet Biosciences (NASDAQ:SGMT)

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