Stonepine Capital Management LLC Purchases 391,624 Shares of Satellos Bioscience Inc. $MSLE

Stonepine Capital Management LLC increased its position in shares of Satellos Bioscience Inc. (NASDAQ:MSLE) by 391.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,624 shares of the company’s stock after acquiring an additional 391,624 shares during the quarter. Satellos Bioscience comprises approximately 0.0% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Stonepine Capital Management LLC owned about 2.36% of Satellos Bioscience worth $3,723,291 at the end of the most recent reporting period.

Separately, AWM Investment Company Inc. lifted its holdings in Satellos Bioscience by 41.9% during the 2nd quarter. AWM Investment Company Inc. now owns 305,000 shares of the company’s stock worth $2,338,000 after purchasing an additional 90,000 shares in the last quarter.

Analyst Ratings Changes

MSLE has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Satellos Bioscience in a report on Monday, August 17th. Canaccord Genuity Group raised shares of Satellos Bioscience to a “moderate buy” rating in a report on Thursday, May 21st. Wells Fargo & Company set a $18.00 price objective on shares of Satellos Bioscience in a research note on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Satellos Bioscience in a research note on Friday, August 7th. Finally, Wall Street Zen raised shares of Satellos Bioscience from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Satellos Bioscience Stock Down 9.9%

Satellos Bioscience stock traded down $0.95 during midday trading on Friday, reaching $8.66. The company’s stock had a trading volume of 18,053 shares, compared to its average volume of 57,294. Satellos Bioscience Inc. has a fifty-two week low of $5.22 and a fifty-two week high of $13.39. The company’s 50 day simple moving average is $8.91. The company has a market capitalization of $183.77 million, a price-to-earnings ratio of -4.51 and a beta of 1.51.

Satellos Bioscience (NASDAQ:MSLE) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.18). As a group, equities analysts predict that Satellos Bioscience Inc. will post -2.08 EPS for the current year.

Satellos Bioscience Company Profile

Satellos Bioscience Inc is a regenerative medicine company dedicated to developing novel therapeutics which stimulate or restore muscle regeneration in severe disorders. The company’s lead program is focused on developing an oral therapeutic drug for Duchenne muscular dystrophy. Satellos Bioscience Inc, formerly known as iCo Therapeutics Inc, is based in Toronto, Ontario.