Braden Michael Leonard Acquires 5,608,306 Shares of Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA) Stock

Satsuma Pharmaceuticals, Inc. (NASDAQ:STSAGet Rating) major shareholder Braden Michael Leonard purchased 5,608,306 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was purchased at an average price of $0.69 per share, for a total transaction of $3,869,731.14. Following the completion of the purchase, the insider now owns 5,608,306 shares in the company, valued at $3,869,731.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Satsuma Pharmaceuticals Stock Up 1.6 %

Shares of Satsuma Pharmaceuticals stock opened at $0.62 on Friday. The stock’s 50-day simple moving average is $5.32 and its 200-day simple moving average is $4.71. Satsuma Pharmaceuticals, Inc. has a 52 week low of $0.59 and a 52 week high of $8.08. The company has a market capitalization of $20.53 million, a price-to-earnings ratio of -0.31 and a beta of 0.42.

Institutional Investors Weigh In On Satsuma Pharmaceuticals

Several large investors have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Satsuma Pharmaceuticals by 44.6% in the third 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 last quarter. Vanguard Group Inc. increased its holdings in shares of Satsuma Pharmaceuticals by 42.0% in the third 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 during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Satsuma Pharmaceuticals in the third quarter worth about $98,000. Nan Fung Group Holdings Ltd increased its holdings in shares of Satsuma Pharmaceuticals by 24.5% in the third quarter. Nan Fung Group Holdings Ltd now owns 177,900 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Satsuma Pharmaceuticals by 16.8% in the third 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 last quarter. 72.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STSA. LADENBURG THALM/SH SH lowered their target price on Satsuma Pharmaceuticals to $3.00 in a research report on Thursday. Jonestrading downgraded Satsuma Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday. SVB Leerink downgraded Satsuma Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Mizuho downgraded Satsuma Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $2.00 in a research report on Tuesday. Finally, HC Wainwright lowered their price objective on Satsuma Pharmaceuticals from $18.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Satsuma Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $7.40.

Satsuma Pharmaceuticals Company Profile

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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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