Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA) Short Interest Update

Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA – Get Rating) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 130,100 shares, a decline of 58.0% from the April 30th total of 310,100 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STSA. HC Wainwright downgraded shares of Satsuma Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Tuesday, April 18th. Mizuho restated a “neutral” rating and set a $2.00 price target on shares of Satsuma Pharmaceuticals in a report on Thursday, March 30th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in STSA. Dimensional Fund Advisors LP increased its stake in Satsuma Pharmaceuticals by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 219,864 shares of the financial services provider’s stock valued at $835,000 after buying an additional 17,180 shares during the period. State Street Corp increased its stake in shares of Satsuma Pharmaceuticals by 20.0% during the 1st quarter. State Street Corp now owns 43,036 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 7,176 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Satsuma Pharmaceuticals during the 1st quarter worth $995,000. JPMorgan Chase & Co. acquired a new position in shares of Satsuma Pharmaceuticals during the 2nd quarter worth $195,000. Finally, UBS Group AG increased its stake in shares of Satsuma Pharmaceuticals by 613.2% during the 2nd quarter. UBS Group AG now owns 17,594 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 15,127 shares during the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.

Satsuma Pharmaceuticals Stock Down 0.9 %

Shares of STSA stock traded down $0.01 during trading hours on Friday, reaching $1.06. 174,981 shares of the stock traded hands, compared to its average volume of 715,381. Satsuma Pharmaceuticals has a 1-year low of $0.59 and a 1-year high of $8.08. The business has a fifty day moving average price of $0.93 and a 200 day moving average price of $1.03.

Satsuma Pharmaceuticals (NASDAQ:STSA – Get Rating) last released its quarterly earnings results on Tuesday, March 28th. The financial services provider reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.32). As a group, equities research analysts anticipate that Satsuma Pharmaceuticals will post -0.82 EPS for the current year.

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.