Fidelity Management & Research Co recently announced the acquisition of new stake in Sagimet Biosciences Inc (NASDAQ:SGMT). This fresh investment now brings its stake to 12.35% valued currently at $14.31 million. In addition, HHLR Advisors Ltd. raised its holdings by 1.45 million to 1.45 million shares.
Currently, there are 21.38M common shares owned by the public and among those 11.15M shares have been available to trade.
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Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 7,555,770 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 85,778 shares.
The top 3 mutual fund holders in Sagimet Biosciences Inc are Fidelity Growth Company Fund, Fidelity Advisor Series VII – Bio, and Fidelity Growth Company K6 Fund. Fidelity Growth Company Fund owns 0.65 million shares of the company’s stock, all valued at over $3.51 million. Fidelity Advisor Series VII – Bio sold -0.1 million shares to see its total holdings shrink to 0.3 million shares valued at over $1.65 million and representing 1.43% of the shares outstanding. Fidelity Growth Company K6 Fund sold 24124.0 shares to bring its total holdings to over 0.22 million shares at a value of $1.2 million. Fidelity Growth Company K6 Fund now owns shares totaling to 1.04% of the shares outstanding.
However, the script later moved the day high at 20.71, up 170.09%. The company’s stock has a 5-day price change of 131.12% and 303.06% over the past three months. It has a 12-month low price of $2.13 and touched a high of $18.33 over the same period. SGMT has an average intraday trading volume of 152.93K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 213.32%, 293.93%, and 117.87% respectively.
Institutional ownership of Sagimet Biosciences Inc (NASDAQ: SGMT) shares accounts for 52.16% of the company’s 21.38M shares outstanding. Mutual fund holders own 4.89%, while other institutional holders and individual stakeholders account for 42.03% and 10.18% respectively.
It has a market capitalization of $393.82M. Price movements for the stock have been influenced by the stock’s volatility, which stands at 30.19% over the week and 18.18% over the month.
Analysts forecast that Sagimet Biosciences Inc (SGMT) will achieve an EPS of -$0.58 for the current quarter, -$0.48 for the next quarter and -$2.27 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.71 while analysts give the company a high EPS estimate of -$0.42.
