Seelos Therapeutics (NASDAQ:SEEL) Trading Down 8.3%

Seelos Therapeutics, Inc. (NASDAQ:SEELGet Rating) shares were down 8.3% during mid-day trading on Tuesday . The company traded as low as $1.08 and last traded at $1.11. Approximately 1,532,056 shares were traded during trading, an increase of 2% from the average daily volume of 1,495,659 shares. The stock had previously closed at $1.21.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Seelos Therapeutics in a report on Monday, June 6th.

Seelos Therapeutics Trading Up 2.8 %

The stock has a market capitalization of $116.70 million, a P/E ratio of -1.50 and a beta of 2.29. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $1.04 and a 200 day moving average price of $0.85.

Seelos Therapeutics (NASDAQ:SEELGet Rating) last announced its earnings results on Friday, August 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.10. On average, research analysts forecast that Seelos Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in Seelos Therapeutics by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 264,684 shares of the company’s stock valued at $222,000 after buying an additional 19,005 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Seelos Therapeutics by 15.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 151,335 shares of the company’s stock valued at $103,000 after purchasing an additional 19,726 shares during the last quarter. Citigroup Inc. grew its stake in Seelos Therapeutics by 113.3% during the 1st quarter. Citigroup Inc. now owns 53,533 shares of the company’s stock valued at $45,000 after purchasing an additional 28,431 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in Seelos Therapeutics during the 1st quarter valued at about $34,000. Finally, Merit Financial Group LLC purchased a new stake in Seelos Therapeutics during the 2nd quarter valued at about $34,000. 29.57% of the stock is owned by institutional investors and hedge funds.

About Seelos Therapeutics

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Seelos Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of central nervous system, respiratory, and other disorders. The company's lead programs are SLS-002, an intranasal racemic ketamine for the treatment of acute suicidal ideation and behavior in patients with major depressive disorders; SLS-005, a protein stabilizer for the treatment of amyotrophic lateral sclerosis and Sanfilippo syndrome; and SLS-006, a partial dopamine agonist for the treatment of patients with Parkinson's disease (PD).

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