Monashee Investment Management LLC Cuts Stock Holdings in Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA)

Monashee Investment Management LLC reduced its position in shares of Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA) by 33.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,027 shares of the financial services provider’s stock after selling 58,030 shares during the period. Monashee Investment Management LLC’s holdings in Satsuma Pharmaceuticals were worth $832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in Satsuma Pharmaceuticals during the first quarter worth about $73,000. Millennium Management LLC purchased a new position in Satsuma Pharmaceuticals during the first quarter worth about $88,000. Deutsche Bank AG raised its holdings in Satsuma Pharmaceuticals by 217.7% during the second quarter. Deutsche Bank AG now owns 20,840 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 14,281 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Satsuma Pharmaceuticals by 27.9% in the first quarter. Bank of New York Mellon Corp now owns 39,472 shares of the financial services provider’s stock valued at $234,000 after buying an additional 8,610 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in Satsuma Pharmaceuticals in the first quarter valued at about $309,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

STSA has been the subject of a number of research analyst reports. SVB Leerink reaffirmed a “hold” rating on shares of Satsuma Pharmaceuticals in a report on Sunday, June 20th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Satsuma Pharmaceuticals in a research report on Thursday, June 17th. Zacks Investment Research upgraded shares of Satsuma Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research report on Friday. Finally, Mizuho upgraded shares of Satsuma Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.00 to $15.00 in a research report on Tuesday, June 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $9.35.

STSA stock opened at $5.02 on Friday. The company’s 50 day simple moving average is $5.04 and its 200-day simple moving average is $5.47. The firm has a market capitalization of $158.28 million, a PE ratio of -2.21 and a beta of 1.21. Satsuma Pharmaceuticals, Inc. has a 12 month low of $3.50 and a 12 month high of $7.48.

Satsuma Pharmaceuticals (NASDAQ:STSA) last announced its earnings results on Tuesday, August 10th. The financial services provider reported ($0.38) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.03. Sell-side analysts expect that Satsuma Pharmaceuticals, Inc. will post -1.84 EPS for the current year.

Satsuma Pharmaceuticals Company Profile

Satsuma Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, developing novel therapeutic products for the acute treatment of migraines. Its lead product candidate is STS101, a drug-device combination of a proprietary dry-powder formulation of dihydroergotamine mesylate, which is in ASCEND Phase III clinical trials and can be self-administered with proprietary pre-filled, single-use, and nasal delivery device.

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Institutional Ownership by Quarter for Satsuma Pharmaceuticals (NASDAQ:STSA)

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