Seelos Therapeutics (NASDAQ:SEEL) Trading Down 13.7% – Here’s Why

Seelos Therapeutics, Inc. (NASDAQ:SEEL) shares were down 13.7% during trading on Thursday . The stock traded as low as $0.90 and last traded at $1.01. Approximately 128,134 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 191,072 shares. The stock had previously closed at $1.17.

Seelos Therapeutics Price Performance

The company has a 50-day moving average price of $1.00 and a 200 day moving average price of $1.37.

Seelos Therapeutics (NASDAQ:SEEL) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 EPS for the quarter. The company had revenue of $0.38 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Seelos Therapeutics stock. Gendell Jeffrey L grew its position in Seelos Therapeutics, Inc. (NASDAQ:SEEL) by 284.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 428,966 shares of the company’s stock after purchasing an additional 317,351 shares during the period. Gendell Jeffrey L owned approximately 2.58% of Seelos Therapeutics worth $254,000 at the end of the most recent quarter. 23.37% of the stock is currently owned by institutional investors and hedge funds.

Seelos Therapeutics Company Profile

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).