Dimensional Fund Advisors LP Buys Shares of 25,334 Sagimet Biosciences Inc. (NASDAQ:SGMT)

Dimensional Fund Advisors LP purchased a new position in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,334 shares of the company’s stock, valued at approximately $114,000. Dimensional Fund Advisors LP owned about 0.08% of Sagimet Biosciences as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of SGMT. Wells Fargo & Company MN acquired a new position in Sagimet Biosciences in the fourth quarter valued at approximately $31,000. Jacksonville Wealth Management LLC purchased a new stake in shares of Sagimet Biosciences during the fourth quarter worth approximately $45,000. Summit Financial Wealth Advisors LLC purchased a new stake in shares of Sagimet Biosciences during the fourth quarter worth approximately $61,000. American Century Companies Inc. acquired a new stake in shares of Sagimet Biosciences in the 4th quarter worth $90,000. Finally, Stoneridge Investment Partners LLC grew its holdings 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 during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Wall Street Analyst Weigh In

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

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $3.22 on Friday. Sagimet Biosciences Inc. has a 1-year low of $1.73 and a 1-year high of $7.38. The company has a market cap of $98.77 million, a PE ratio of -1.83 and a beta of 2.32. The stock’s 50 day moving average price is $3.06 and its 200 day moving average price is $4.15.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Thursday, May 8th. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.23. On average, equities research analysts anticipate that Sagimet Biosciences Inc. will post -1.6 EPS for the current fiscal year.

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.