Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA) Major Shareholder Braden Michael Leonard Acquires 150,000 Shares

Satsuma Pharmaceuticals, Inc. (NASDAQ:STSAGet Rating) major shareholder Braden Michael Leonard bought 150,000 shares of Satsuma Pharmaceuticals stock in a transaction dated Monday, November 21st. The stock was acquired at an average price of $0.71 per share, for a total transaction of $106,500.00. Following the completion of the acquisition, the insider now owns 150,000 shares in the company, valued at $106,500. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

  • On Monday, November 14th, Braden Michael Leonard bought 5,608,306 shares of Satsuma Pharmaceuticals stock. The stock was acquired at an average price of $0.69 per share, for a total transaction of $3,869,731.14.

Satsuma Pharmaceuticals Stock Performance

Satsuma Pharmaceuticals stock traded up $0.03 during trading hours on Thursday, hitting $0.76. The company had a trading volume of 1,469,647 shares, compared to its average volume of 1,958,160. The firm has a market cap of $25.15 million, a P/E ratio of -0.38 and a beta of 0.42. Satsuma Pharmaceuticals, Inc. has a 1 year low of $0.59 and a 1 year high of $8.08. The company has a 50-day moving average price of $4.87 and a two-hundred day moving average price of $4.63.

Institutional Investors Weigh In On Satsuma Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Walleye Capital LLC purchased a new stake in shares of Satsuma Pharmaceuticals in the 1st quarter worth approximately $995,000. Dimensional Fund Advisors LP lifted its position in shares of Satsuma Pharmaceuticals by 16.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 276,266 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 39,731 shares during the period. State Street Corp lifted its position in shares of Satsuma Pharmaceuticals by 44.6% in the 3rd quarter. State Street Corp now owns 62,236 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 19,200 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Satsuma Pharmaceuticals in the 2nd quarter worth approximately $195,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Satsuma Pharmaceuticals in the 3rd quarter worth approximately $98,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. LADENBURG THALM/SH SH reduced their target price on shares of Satsuma Pharmaceuticals to $3.00 in a report on Thursday, November 17th. HC Wainwright dropped their price target on shares of Satsuma Pharmaceuticals from $18.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, November 15th. SVB Leerink cut shares of Satsuma Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 15th. Jonestrading cut shares of Satsuma Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. Finally, Mizuho cut shares of Satsuma Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $2.00 in a research note on Tuesday, November 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.40.

About Satsuma Pharmaceuticals

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Satsuma Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, developing novel therapeutic products for the acute treatment of migraines. The company's lead product candidate is STS101, a drug-device combination of a proprietary dry-powder formulation of dihydroergotamine mesylate, which is in SUMMIT Phase 3 efficacy trials and can be self-administered with proprietary pre-filled, single-use, and nasal delivery device.

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