Satellos Bioscience (NASDAQ:MSLE) Stock Rating Cut to Strong Sell at 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.

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

Satellos Bioscience Stock Down 1.0%

MSLE stock opened at $6.63 on Wednesday. Satellos Bioscience has a 52-week low of $5.30 and a 52-week high of $13.39. The stock’s 50 day moving average is $8.66 and its two-hundred day moving average is $8.02. The company has a market capitalization of $140.69 million, a PE ratio of -3.45 and a beta of 1.51.

Satellos Bioscience (NASDAQ:MSLE) last announced its earnings results on Thursday, August 13th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.18). As a group, sell-side analysts anticipate that Satellos Bioscience will post -1.86 EPS 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 position in shares of Satellos Bioscience Inc. (NASDAQ:MSLE) by 391.6% in the 2nd quarter, according to its most recent disclosure with the 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 portfolio, making the stock its 16th biggest holding. Stonepine Capital Management LLC owned about 2.36% of Satellos Bioscience worth $3,723,291 at the end of the most recent reporting period.

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.