Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA – Get Rating) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 130,100 shares, a decrease of 58.0% from the April 30th total of 310,100 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 1,020,000 shares, the days-to-cover ratio is presently 0.1 days.
Analyst Ratings Changes
STSA has been the subject of a number of recent analyst reports. HC Wainwright downgraded shares of Satsuma Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 18th. Mizuho reissued a “neutral” rating and set a $2.00 target price on shares of Satsuma Pharmaceuticals in a research report on Thursday, March 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.40.
Satsuma Pharmaceuticals Price Performance
Shares of Satsuma Pharmaceuticals stock traded down $0.01 on Friday, reaching $1.06. 174,981 shares of the company’s stock were exchanged, compared to its average volume of 715,381. Satsuma Pharmaceuticals has a 52 week low of $0.59 and a 52 week high of $8.08. The firm’s 50-day moving average is $0.93 and its two-hundred day moving average is $1.03.
Hedge Funds Weigh In On Satsuma Pharmaceuticals
A number of institutional investors and hedge funds have recently modified their holdings of STSA. BML Capital Management LLC bought a new position in shares of Satsuma Pharmaceuticals in the 4th quarter worth $5,796,000. Two Sigma Investments LP lifted its holdings in shares of Satsuma Pharmaceuticals by 2,672.8% in the 4th quarter. Two Sigma Investments LP now owns 291,946 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 281,417 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Satsuma Pharmaceuticals by 42.0% in the 3rd quarter. Vanguard Group Inc. now owns 909,390 shares of the financial services provider’s stock worth $5,457,000 after purchasing an additional 269,026 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Satsuma Pharmaceuticals in the 1st quarter worth $995,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Satsuma Pharmaceuticals by 2,441.0% in the 4th quarter. Renaissance Technologies LLC now owns 254,100 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 244,100 shares in the last quarter. 93.26% of the stock is currently owned by institutional investors.
About Satsuma Pharmaceuticals
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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