Stonepine Capital Management LLC Increases Stock Position in Satellos Bioscience Inc. $MSLE

Stonepine Capital Management LLC increased its stake in Satellos Bioscience Inc. (NASDAQ:MSLE) by 391.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 491,624 shares of the company’s stock after purchasing an additional 391,624 shares during the quarter. Satellos Bioscience accounts for 2.0% of Stonepine Capital Management LLC’s portfolio, making the stock its 16th largest position. Stonepine Capital Management LLC owned about 2.36% of Satellos Bioscience worth $3,723,291,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, AWM Investment Company Inc. grew its position in shares of Satellos Bioscience by 41.9% during the 2nd quarter. AWM Investment Company Inc. now owns 305,000 shares of the company’s stock valued at $2,338,000 after acquiring an additional 90,000 shares during the period.

Analyst Ratings Changes

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

Satellos Bioscience Stock Performance

Satellos Bioscience stock opened at $9.61 on Friday. The business’s 50-day moving average is $8.91. Satellos Bioscience Inc. has a 52 week low of $5.17 and a 52 week high of $13.39. The firm has a market capitalization of $203.92 million, a price-to-earnings ratio of -5.00 and a beta of 1.51.

Satellos Bioscience (NASDAQ:MSLE) last released 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). On average, sell-side analysts anticipate that Satellos Bioscience Inc. will post -2.08 earnings per share for the current fiscal year.

About Satellos Bioscience

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.