Satellos Bioscience (NASDAQ:MSLE) Stock Gets Downgrade from Zacks Research

Satellos Bioscience (NASDAQ:MSLE) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday, Zacks reports.

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

Satellos Bioscience Stock Performance

Satellos Bioscience stock opened at $6.63 on Wednesday. The company has a market capitalization of $140.69 million, a PE ratio of -3.45 and a beta of 1.51. Satellos Bioscience has a fifty-two week low of $5.30 and a fifty-two week high of $13.39. The firm has a 50 day moving average price of $8.66 and a 200 day moving average price of $8.02.

Satellos Bioscience (NASDAQ:MSLE) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.18). As a group, equities research analysts forecast that Satellos Bioscience will post -1.86 earnings per share for the current year.

Hedge Funds Weigh In On Satellos Bioscience

An institutional investor recently raised its stake in Satellos Bioscience stock. Stonepine Capital Management LLC lifted its stake in shares of Satellos Bioscience Inc. (NASDAQ:MSLE) by 391.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 491,624 shares of the company’s stock after acquiring an additional 391,624 shares during the quarter. Satellos Bioscience accounts for about 0.0% of Stonepine Capital Management LLC’s portfolio, making the stock its 16th largest position. Stonepine Capital Management LLC owned 2.36% of Satellos Bioscience worth $3,723,291 as of its most recent filing with the Securities and Exchange Commission.

Satellos Bioscience Company Profile

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.