SeaStar Medical (NASDAQ:ICU) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of SeaStar Medical (NASDAQ:ICU) from a hold rating to a sell rating in a research note released on Saturday morning.

ICU has been the subject of a number of other reports. Maxim Group set a $8.00 target price on shares of SeaStar Medical and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of SeaStar Medical in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

SeaStar Medical Stock Down 6.0%

NASDAQ ICU opened at $3.95 on Friday. The company has a 50-day simple moving average of $3.62 and a two-hundred day simple moving average of $3.28. SeaStar Medical has a 12-month low of $2.07 and a 12-month high of $13.40. The firm has a market cap of $15.80 million, a price-to-earnings ratio of -0.82 and a beta of -1.04.

SeaStar Medical (NASDAQ:ICU) last posted its earnings results on Wednesday, May 13th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.08). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.44 million. SeaStar Medical had a negative return on equity of 146.29% and a negative net margin of 828.62%. Equities analysts expect that SeaStar Medical will post -2.94 earnings per share for the current fiscal year.

Institutional Trading of SeaStar Medical

Several institutional investors and hedge funds have recently bought and sold shares of ICU. Millennium Management LLC purchased a new stake in SeaStar Medical in the third quarter worth about $102,000. Jane Street Group LLC purchased a new stake in SeaStar Medical in the fourth quarter worth about $30,000. Finally, XTX Topco Ltd lifted its holdings in SeaStar Medical by 395.4% in the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after buying an additional 48,674 shares during the period. 1.69% of the stock is currently owned by hedge funds and other institutional investors.

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.