Empery Asset Management LP Sells 123,000 Shares of Satellos Bioscience Inc. $MSLE

Key Points

• Empery Asset Management reduced its Satellos Bioscience stake by 53.5% in the second quarter, selling 123,000 shares and retaining 107,100 shares, or approximately 0.51% of the company.
• Satellos reported a quarterly loss of $0.56 per share, missing analysts’ estimate of a $0.38 loss; analysts expect a full-year loss of $2.08 per share.
• Despite mixed ratings, the stock has a consensus “Moderate Buy” rating and an average price target of $19.75, compared with a recent price of $10.01.

Empery Asset Management LP cut its stake in shares of Satellos Bioscience Inc. (NASDAQ:MSLE - Free Report) by 53.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,100 shares of the company's stock after selling 123,000 shares during the period. Satellos Bioscience makes up approximately 1.0% of Empery Asset Management LP's investment portfolio, making the stock its 15th largest holding. Empery Asset Management LP owned about 0.51% of Satellos Bioscience worth $832,703,000 as of its most recent SEC filing.

Satellos Bioscience Stock Performance

MSLE opened at $10.01 on Friday. Satellos Bioscience Inc. has a 12 month low of $5.14 and a 12 month high of $13.39. The company has a fifty day moving average price of $8.61. The company has a market cap of $208.61 million, a PE ratio of -5.21 and a beta of 1.51.

Satellos Bioscience (NASDAQ:MSLE - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.18). On average, research analysts predict that Satellos Bioscience Inc. will post -2.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MSLE shares. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Satellos Bioscience in a report on Monday, August 17th. Wall Street Zen raised Satellos Bioscience from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Satellos Bioscience in a research report on Friday, August 7th. Canaccord Genuity Group raised shares of Satellos Bioscience to a "moderate buy" rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company set a $18.00 price objective on shares of Satellos Bioscience in a research note on Thursday, July 9th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.75.

Satellos Bioscience Profile

Satellos Bioscience Inc is a regenerative medicine company dedicated to developing novel therapeutics which stimulate or restore muscle regeneration in severe disorders. The company's lead program is focused on developing an oral therapeutic drug for Duchenne muscular dystrophy. Satellos Bioscience Inc, formerly known as iCo Therapeutics Inc, is based in Toronto, Ontario.

Want to see what other hedge funds are holding MSLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Satellos Bioscience Inc. (NASDAQ:MSLE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source