Alan Dickens praised Saints' character but was frustrated that they were unable to claim more than two points from their trip to Wasps on Sunday afternoon.
The black, green and gold bagged a try bonus point as well as a losing bonus point in a 36-29 defeat at the Ricoh Arena.
Tries from Teimana Harrison and Api Ratuniyarawa kept them in the hunt at 21-17 down at half-time before Wasps extended their advantage after the restart.
Efforts from Alex Mitchell and Ahsee Tuala threatened to give Saints a sniff of victory, but Wasps held their nerve to win it.
And interim head coach Dickens said: "I was chuffed with the character the lads showed to hang in there and we could have come away with a draw in the end.
"We've played a top-four team and scored four tries.
"But we want to win and I've talked in the changing room to the players and said it's another game of frustration.
"Wasps are a top-four side, they're third in the league now and are they six, seven, eight positions better than us? From that performance today, you'd say no.
"That's the frustration from our point of view as a group, that we probably haven't done ourselves justice this season in terms of the talent we've got.
"We should be higher up the table."