Dumac Inc. Sells 72,351 Shares of Sagimet Biosciences Inc. $SGMT

Dumac Inc. lessened its stake in shares of Sagimet Biosciences Inc. (NASDAQ:SGMT) by 49.1% during the second quarter, Holdings Channel.com reports. The fund owned 75,000 shares of the company’s stock after selling 72,351 shares during the period. Sagimet Biosciences accounts for about 3.6% of Dumac Inc.’s holdings, making the stock its 6th biggest holding. Dumac Inc.’s holdings in Sagimet Biosciences were worth $572,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of Sagimet Biosciences during the first quarter valued at approximately $35,000. Persistent Asset Partners Ltd bought a new stake in Sagimet Biosciences during the first quarter worth approximately $35,000. Jasper Ridge Partners L.P. bought a new stake in Sagimet Biosciences during the first quarter worth approximately $62,000. OMERS ADMINISTRATION Corp boosted its holdings in Sagimet Biosciences by 46.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 85,600 shares of the company’s stock worth $279,000 after buying an additional 27,100 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Sagimet Biosciences during the second quarter worth approximately $143,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $8.14 on Friday. Sagimet Biosciences Inc. has a one year low of $1.73 and a one year high of $11.41. The company’s fifty day moving average price is $7.34 and its two-hundred day moving average price is $6.66. The company has a market capitalization of $264.71 million, a price-to-earnings ratio of -4.45 and a beta of 3.23.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.20. As a group, sell-side analysts anticipate that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SGMT. Wall Street Zen upgraded shares of Sagimet Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. HC Wainwright upgraded shares of Sagimet Biosciences to a “buy” rating and set a $29.00 price objective on the stock in a research report on Thursday, August 7th. 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 objective on the stock. Zacks Research raised shares of Sagimet Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Sagimet Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $25.67.

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.