Charles Schwab Investment Management Inc. Invests $49,000 in Sagimet Biosciences Inc. $SGMT

Charles Schwab Investment Management Inc. acquired a new position in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $49,000.

Other large investors have also modified their holdings of the company. Wells Fargo & Company MN acquired a new position in Sagimet Biosciences during the fourth quarter valued at approximately $31,000. XTX Topco Ltd acquired a new position in Sagimet Biosciences during the first quarter valued at approximately $35,000. Shay Capital LLC acquired a new position in Sagimet Biosciences during the fourth quarter valued at approximately $87,000. Squarepoint Ops LLC lifted its position in Sagimet Biosciences by 72.4% during the fourth quarter. Squarepoint Ops LLC now owns 50,484 shares of the company’s stock valued at $227,000 after buying an additional 21,195 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in Sagimet Biosciences during the fourth quarter valued at approximately $114,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Sagimet Biosciences Price Performance

SGMT opened at $7.25 on Friday. Sagimet Biosciences Inc. has a 12-month low of $1.73 and a 12-month high of $11.41. The firm’s fifty day moving average price is $8.54 and its 200 day moving average price is $5.54. The stock has a market capitalization of $235.77 million, a PE ratio of -3.96 and a beta of 3.34.

Sagimet Biosciences (NASDAQ:SGMT) last released its earnings results on Wednesday, August 13th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.20. On average, equities research analysts forecast that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Sagimet Biosciences

In other Sagimet Biosciences news, General Counsel Elizabeth Rozek sold 10,780 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $9.13, for a total transaction of $98,421.40. Following the completion of the sale, the general counsel owned 183,726 shares in the company, valued at $1,677,418.38. The trade was a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eduardo Bruno Martins sold 8,277 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $9.13, for a total transaction of $75,569.01. Following the sale, the insider owned 106,936 shares of the company’s stock, valued at approximately $976,325.68. The trade was a 7.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,535 shares of company stock worth $771,805 over the last 90 days. Insiders own 14.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SGMT shares. Jones Trading lifted their price target on shares of Sagimet Biosciences from $15.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Canaccord Genuity Group started coverage on shares of Sagimet Biosciences in a research report on Thursday, July 24th. They set a “buy” rating and a $28.00 price target on the stock. Wedbush started coverage on shares of Sagimet Biosciences in a research report on Monday, August 11th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, HC Wainwright raised shares of Sagimet Biosciences to a “buy” rating and set a $29.00 price target on the stock in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $25.67.

About Sagimet Biosciences

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.