Seelos Therapeutics (NASDAQ:SEEL) Trading Down 9.7%

Seelos Therapeutics Inc (NASDAQ:SEEL) shares dropped 9.7% on Thursday . The stock traded as low as $1.57 and last traded at $1.58, approximately 510,244 shares were traded during mid-day trading. A decline of 78% from the average daily volume of 2,299,504 shares. The stock had previously closed at $1.75.

SEEL has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Seelos Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. ValuEngine upgraded shares of Seelos Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday. HC Wainwright initiated coverage on shares of Seelos Therapeutics in a research report on Friday, May 10th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Roth Capital initiated coverage on shares of Seelos Therapeutics in a research report on Tuesday, May 14th. They issued a “buy” rating and a $8.00 price target on the stock.

The firm has a 50 day simple moving average of $2.05.

Seelos Therapeutics (NASDAQ:SEEL) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.06. As a group, equities research analysts anticipate that Seelos Therapeutics Inc will post -4.43 EPS for the current fiscal year.

An institutional investor recently bought a new position in Seelos Therapeutics stock. Wedbush Securities Inc. acquired a new position in Seelos Therapeutics Inc (NASDAQ:SEEL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,000 shares of the company’s stock, valued at approximately $35,000. Wedbush Securities Inc. owned approximately 0.08% of Seelos Therapeutics as of its most recent SEC filing. 5.13% of the stock is owned by institutional investors.

Seelos Therapeutics Company Profile (NASDAQ:SEEL)

Seelos Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing technologies and therapeutics for the treatment of central nervous system, respiratory, and other disorders. The company is focused on neurological and psychiatric disorders, including orphan indications. Its lead programs are SLS-002, an intranasal racemic ketamine for the treatment of suicidality in post-traumatic stress disorder and in depressive disorder; and SLS-006, a partial dopamine agonist for monotherapy in early stage Parkinson's disease patients.

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