SeaStar Medical (NASDAQ:ICU) Trading Up 3.8% – Here’s What Happened

SeaStar Medical Holding Corporation (NASDAQ:ICU)’s stock price rose 3.8% during mid-day trading on Monday . The company traded as high as $3.49 and last traded at $3.24. Approximately 59,616 shares were traded during mid-day trading, a decline of 25% from the average session volume of 79,896 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ICU shares. Maxim Group set a $8.00 price objective on SeaStar Medical and gave the company a “buy” rating in a report on Thursday, May 14th. Wall Street Zen cut shares of SeaStar Medical from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SeaStar Medical in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SeaStar Medical presently has a consensus rating of “Hold” and an average target price of $8.00.

SeaStar Medical Stock Down 11.0%

The business’s 50-day simple moving average is $3.78 and its two-hundred day simple moving average is $3.11. The firm has a market capitalization of $12.35 million, a price-to-earnings ratio of -0.64 and a beta of -1.05.

SeaStar Medical (NASDAQ:ICU) last announced its earnings results on Wednesday, May 13th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.08). SeaStar Medical had a negative net margin of 828.62% and a negative return on equity of 146.29%. The firm had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.44 million. Sell-side analysts anticipate that SeaStar Medical Holding Corporation will post -3.58 earnings per share for the current year.

Hedge Funds Weigh In On SeaStar Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd grew its holdings in shares of SeaStar Medical by 395.4% during the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after purchasing an additional 48,674 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of SeaStar Medical in the 4th quarter valued at about $30,000. Finally, Millennium Management LLC purchased a new position in SeaStar Medical during the 3rd quarter worth approximately $102,000. 1.69% of the stock is owned by institutional investors and hedge funds.

SeaStar Medical Company Profile

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.