Federated Hermes Inc. Has $527,000 Stock Holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Federated Hermes Inc. boosted its position in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) by 24.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 97,276 shares of the company’s stock after purchasing an additional 19,276 shares during the period. Federated Hermes Inc.’s holdings in Sagimet Biosciences were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SGMT. RTW Investments LP purchased a new stake in shares of Sagimet Biosciences during the 3rd quarter worth about $3,522,000. Rock Springs Capital Management LP bought a new position in Sagimet Biosciences during the third quarter valued at approximately $6,498,000. Dumac Inc. acquired a new stake in Sagimet Biosciences in the third quarter valued at approximately $1,796,000. CHI Advisors LLC bought a new stake in Sagimet Biosciences in the third quarter worth approximately $3,070,000. Finally, Silverarc Capital Management LLC acquired a new position in shares of Sagimet Biosciences during the 3rd quarter worth $880,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Insider Transactions at Sagimet Biosciences

In related news, CEO David Happel bought 12,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were acquired at an average price of $5.27 per share, with a total value of $63,767.00. Following the completion of the transaction, the chief executive officer now owns 639,200 shares of the company’s stock, valued at approximately $3,368,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 17.60% of the company’s stock.

Sagimet Biosciences Stock Performance

Shares of NASDAQ:SGMT opened at $4.32 on Friday. The business has a 50 day moving average price of $5.08 and a 200 day moving average price of $5.63. Sagimet Biosciences Inc. has a twelve month low of $2.13 and a twelve month high of $20.71.

Analyst Ratings Changes

A number of brokerages recently issued reports on SGMT. JMP Securities decreased their price objective on shares of Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating for the company in a report on Wednesday, February 7th. SVB Leerink assumed coverage on Sagimet Biosciences in a report on Monday, March 25th. They set an “outperform” rating and a $26.00 price objective on the stock. The Goldman Sachs Group reduced their target price on Sagimet Biosciences from $37.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Leerink Partnrs reiterated an “outperform” rating on shares of Sagimet Biosciences in a report on Monday, March 25th. Finally, HC Wainwright began coverage on shares of Sagimet Biosciences in a research note on Thursday. They issued a “buy” rating and a $32.00 price objective for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $39.60.

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.