Satellos Bioscience (NASDAQ:MSLE) Stock Bumped Down to “Strong Sell” by Zacks Research

Zacks Research lowered shares of Satellos Bioscience (NASDAQ:MSLE) from a hold rating to a strong sell rating in a research note published on Wednesday morning,Zacks reports.

Several other equities research analysts have also issued reports on MSLE. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Satellos Bioscience in a research note on Monday, August 17th. Craig Hallum assumed coverage on shares of Satellos Bioscience in a research report on Thursday, October 8th. They set a “buy” rating and a $24.00 target price on the stock. Wells Fargo & Company set a $18.00 target price on Satellos Bioscience in a report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellos Bioscience in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Satellos Bioscience currently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Satellos Bioscience Stock Down 1.0%

NASDAQ MSLE opened at $6.63 on Wednesday. The stock has a market capitalization of $140.69 million, a PE ratio of -3.45 and a beta of 1.51. The company has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $8.02. Satellos Bioscience has a 12-month low of $5.30 and a 12-month high of $13.39.

Satellos Bioscience (NASDAQ:MSLE) last posted its 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 anticipate that Satellos Bioscience will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Satellos Bioscience stock. Stonepine Capital Management LLC boosted its position in shares of Satellos Bioscience Inc. (NASDAQ:MSLE) by 391.6% in the second quarter, according to the company in its most recent 13F 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 period. Satellos Bioscience accounts for 0.0% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Stonepine Capital Management LLC owned approximately 2.36% of Satellos Bioscience worth $3,723,291 at the end of the most recent reporting period.

About Satellos Bioscience

Satellos Bioscience Corporation (NASDAQ:MSLE) is a biotechnology company focused on developing therapies that promote the natural regeneration and repair of skeletal muscle. Its research is based on the role of muscle stem cells, also known as satellite cells, in maintaining and rebuilding muscle tissue after injury or disease.

The company’s lead program is SAT-3247, an investigational small-molecule therapy being developed for muscle-wasting disorders, including Duchenne muscular dystrophy.