SeaStar Medical (NASDAQ:ICU) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of SeaStar Medical (NASDAQ:ICU) from a hold rating to a sell rating in a research note issued to investors on Sunday.

ICU has been the subject of a number of other research reports. Maxim Group set a $8.00 price objective on shares of SeaStar Medical and gave the company a “buy” rating in a report on Thursday, May 14th. Weiss Ratings restated a “sell (e+)” rating on shares of SeaStar Medical in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.00.

SeaStar Medical Price Performance

SeaStar Medical stock opened at $3.35 on Friday. The company has a fifty day simple moving average of $3.71 and a 200-day simple moving average of $3.45. The firm has a market capitalization of $14.77 million, a price-to-earnings ratio of -0.86 and a beta of -1.05. SeaStar Medical has a 52-week low of $2.07 and a 52-week high of $12.50.

SeaStar Medical (NASDAQ:ICU) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.06. The firm had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.49 million. SeaStar Medical had a negative net margin of 795.51% and a negative return on equity of 162.75%. On average, research analysts anticipate that SeaStar Medical will post -3.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ICU. Millennium Management LLC purchased a new stake in shares of SeaStar Medical in the third quarter valued at about $102,000. Jane Street Group LLC purchased a new position in SeaStar Medical during the fourth quarter worth about $30,000. Finally, XTX Topco Ltd raised its stake in 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 period. Institutional investors and hedge funds own 1.69% of the company’s stock.

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.