Jacksonville Wealth Management LLC Invests $45,000 in Sagimet Biosciences Inc. (NASDAQ:SGMT)

Jacksonville Wealth Management LLC bought a new stake in Sagimet Biosciences Inc. (NASDAQ:SGMT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SGMT. ORG Wealth Partners LLC bought a new stake in shares of Sagimet Biosciences in the 3rd quarter valued at $119,000. Barclays PLC lifted its holdings in Sagimet Biosciences by 14.3% in the third quarter. Barclays PLC now owns 57,230 shares of the company’s stock valued at $159,000 after buying an additional 7,178 shares during the period. JPMorgan Chase & Co. lifted its holdings in Sagimet Biosciences by 66.2% in the third quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock valued at $199,000 after buying an additional 28,690 shares during the period. Squarepoint Ops LLC bought a new stake in Sagimet Biosciences during the second quarter valued at $324,000. Finally, Geode Capital Management LLC grew its holdings in Sagimet Biosciences by 56.7% during the 3rd quarter. Geode Capital Management LLC now owns 252,298 shares of the company’s stock worth $699,000 after acquiring an additional 91,246 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Sagimet Biosciences Stock Up 1.2 %

SGMT stock opened at $4.20 on Friday. The stock’s 50 day simple moving average is $4.89 and its 200 day simple moving average is $4.21. Sagimet Biosciences Inc. has a fifty-two week low of $2.39 and a fifty-two week high of $16.68.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SGMT shares. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Sagimet Biosciences in a research note on Friday, November 15th. UBS Group initiated coverage on Sagimet Biosciences in a research note on Tuesday, November 12th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Oppenheimer started coverage on shares of Sagimet Biosciences in a research report on Friday, December 6th. They set an “outperform” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.