Satsuma Pharmaceuticals, Inc. (NASDAQ:STSA) Major Shareholder Braden Michael Leonard Acquires 150,000 Shares

Satsuma Pharmaceuticals, Inc. (NASDAQ:STSAGet Rating) major shareholder Braden Michael Leonard bought 150,000 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were acquired at an average cost of $0.71 per share, with a total value of $106,500.00. Following the purchase, the insider now directly owns 150,000 shares of the company’s stock, valued at approximately $106,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

  • On Monday, November 14th, Braden Michael Leonard bought 5,608,306 shares of Satsuma Pharmaceuticals stock. The shares were acquired at an average cost of $0.69 per share, with a total value of $3,869,731.14.

Satsuma Pharmaceuticals Trading Up 4.5 %

STSA stock traded up $0.03 on Thursday, hitting $0.76. The company had a trading volume of 1,469,647 shares, compared to its average volume of 1,958,160. The stock’s 50-day simple moving average is $4.87 and its 200 day simple moving average is $4.63. The stock has a market cap of $25.15 million, a price-to-earnings ratio of -0.38 and a beta of 0.42. Satsuma Pharmaceuticals, Inc. has a 12-month low of $0.59 and a 12-month high of $8.08.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. SVB Leerink downgraded shares of Satsuma Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 15th. LADENBURG THALM/SH SH reduced their price target on shares of Satsuma Pharmaceuticals to $3.00 in a research report on Thursday, November 17th. Mizuho downgraded shares of Satsuma Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $13.00 to $2.00 in a research report on Tuesday, November 15th. HC Wainwright reduced their price target on shares of Satsuma Pharmaceuticals from $18.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, November 15th. Finally, Jonestrading downgraded shares of Satsuma Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of STSA. Virtu Financial LLC bought a new stake in shares of Satsuma Pharmaceuticals during the 3rd quarter valued at $61,000. UBS Group AG raised its position 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 valued at $73,000 after purchasing an additional 15,127 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Satsuma Pharmaceuticals during the 3rd quarter valued at $98,000. State Street Corp raised its position 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 valued at $164,000 after purchasing an additional 7,176 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Satsuma Pharmaceuticals during the 2nd quarter valued at $195,000. Hedge funds and other institutional investors own 72.03% of the company’s stock.

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.

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