Affinity Asset Advisors LLC Reduces Position in Sagimet Biosciences Inc. $SGMT

Affinity Asset Advisors LLC decreased its holdings in Sagimet Biosciences Inc. (NASDAQ:SGMT) by 24.4% during the 1st quarter, HoldingsChannel reports. The fund owned 868,020 shares of the company’s stock after selling 280,225 shares during the quarter. Affinity Asset Advisors LLC’s holdings in Sagimet Biosciences were worth $4,535,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SGMT. NewEdge Advisors LLC bought a new stake in shares of Sagimet Biosciences in the first quarter worth $105,000. Geode Capital Management LLC boosted its stake in Sagimet Biosciences by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 265,324 shares of the company’s stock valued at $2,023,000 after acquiring an additional 1,600 shares during the last quarter. American Century Companies Inc. boosted its stake in Sagimet Biosciences by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 42,285 shares of the company’s stock valued at $322,000 after acquiring an additional 3,454 shares during the last quarter. XTX Topco Ltd grew its holdings in Sagimet Biosciences by 137.0% during the 2nd quarter. XTX Topco Ltd now owns 25,624 shares of the company’s stock worth $195,000 after acquiring an additional 14,813 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in Sagimet Biosciences during the 2nd quarter worth $1,130,000. 87.86% of the stock is owned by institutional investors and hedge funds.

Sagimet Biosciences Stock Up 0.9%

Shares of NASDAQ:SGMT opened at $7.07 on Friday. The company’s 50-day moving average price is $7.09 and its 200 day moving average price is $6.32. The company has a market cap of $230.38 million, a PE ratio of -5.28 and a beta of 3.35. Sagimet Biosciences Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $11.41.

Sagimet Biosciences (NASDAQ:SGMT) last posted its earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.06. As a group, equities analysts anticipate that Sagimet Biosciences Inc. will post -1.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SGMT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Sagimet Biosciences in a research note on Friday, July 17th. Canaccord Genuity Group lifted their price target on Sagimet Biosciences from $28.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Guggenheim reduced their target price on Sagimet Biosciences from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Oppenheimer reiterated an “outperform” rating on shares of Sagimet Biosciences in a research report on Friday, May 1st. Finally, Citizens Jmp lowered their price target on Sagimet Biosciences from $35.00 to $12.00 and set a “market outperform” rating for the company in a report on Tuesday, May 19th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.57.

Sagimet Biosciences Profile

Sagimet Biosciences (NASDAQ: SGMT) is a clinical-stage biotechnology company focused on developing novel therapies for fibrotic diseases. The company’s lead program, CM-101, is a first-in-class fusion protein designed to neutralize the chemokine CCL24 and interrupt key drivers of tissue fibrosis. Preclinical data have demonstrated CM-101’s potential to block fibrotic signaling pathways in multiple organ systems, and the company has advanced the program into early-stage clinical evaluation for indications such as nonalcoholic steatohepatitis and systemic sclerosis.

In addition to CM-101, Sagimet maintains a pipeline of preclinical candidates targeting inflammation-driven fibrotic processes.