Seelos Therapeutics (NASDAQ:SEEL) Trading Down 25% – What’s Next?

Seelos Therapeutics, Inc. (NASDAQ:SEEL) shares traded down 25% during mid-day trading on Friday . The company traded as low as $0.54 and last traded at $0.54. 47,441 shares were traded during trading, a decline of 73% from the average session volume of 175,285 shares. The stock had previously closed at $0.72.

Seelos Therapeutics Stock Performance

The firm’s fifty day moving average price is $2.27 and its two-hundred day moving average price is $10.13.

Seelos Therapeutics (NASDAQ:SEEL) last announced its earnings results on Wednesday, August 14th. The company reported $1.92 earnings per share (EPS) for the quarter. The business had revenue of $0.38 million for the quarter.

Institutional Trading of Seelos Therapeutics

An institutional investor recently raised its position in Seelos Therapeutics stock. Gendell Jeffrey L boosted its position in Seelos Therapeutics, Inc. (NASDAQ:SEEL) by 284.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428,966 shares of the company’s stock after buying an additional 317,351 shares during the period. Gendell Jeffrey L owned approximately 2.58% of Seelos Therapeutics worth $254,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.37% of the company’s stock.

About Seelos Therapeutics

Seelos Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of central nervous system, respiratory, and other disorders. The company's lead programs are SLS-002, an intranasal racemic ketamine for the treatment of acute suicidal ideation and behavior in patients with major depressive disorders; SLS-005, a protein stabilizer for the treatment of amyotrophic lateral sclerosis and Sanfilippo syndrome; and SLS-006, a partial dopamine agonist for the treatment of patients with Parkinson's disease (PD).