Seelos Therapeutics (NASDAQ:SEEL) Sees Unusually-High Trading Volume

Share on StockTwits

Shares of Seelos Therapeutics Inc (NASDAQ:SEEL) saw an uptick in trading volume on Thursday . 2,863,800 shares changed hands during mid-day trading, an increase of 35% from the previous session’s volume of 2,122,420 shares.The stock last traded at $1.78 and had previously closed at $1.65.

A number of brokerages have recently commented on SEEL. HC Wainwright began coverage on shares of Seelos Therapeutics in a research note on Friday, May 10th. They issued a “buy” rating and a $4.00 price target for the company. ValuEngine upgraded shares of Seelos Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Seelos Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a research note on Tuesday, August 6th. Finally, Roth Capital set a $8.00 price target on shares of Seelos Therapeutics and gave the stock a “buy” rating in a research note on Friday, August 2nd.

The company has a 50 day moving average of $1.78.

Seelos Therapeutics (NASDAQ:SEEL) last announced its earnings results on Thursday, August 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. On average, research analysts anticipate that Seelos Therapeutics Inc will post -3.83 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ardsley Advisory Partners LP grew its position in Seelos Therapeutics by 25.0% during the second quarter. Ardsley Advisory Partners LP now owns 50,000 shares of the company’s stock valued at $110,000 after buying an additional 10,000 shares during the period. Northern Trust Corp bought a new stake in Seelos Therapeutics during the second quarter valued at approximately $25,000. Citadel Advisors LLC bought a new stake in Seelos Therapeutics during the second quarter valued at approximately $29,000. Wedbush Securities Inc. bought a new stake in Seelos Therapeutics during the second quarter valued at approximately $35,000. Finally, A.R.T. Advisors LLC grew its position in Seelos Therapeutics by 371.5% during the second quarter. A.R.T. Advisors LLC now owns 52,342 shares of the company’s stock valued at $115,000 after buying an additional 41,242 shares during the period. Institutional investors own 7.20% of the company’s stock.

About Seelos Therapeutics (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.

Read More: What is the Difference Between Common Shares and Convertible Shares?

Receive News & Ratings for Seelos Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seelos Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.