SeaStar Medical (NASDAQ:ICU) Announces Quarterly Earnings Results

SeaStar Medical (NASDAQ:ICU) issued its quarterly earnings results on Wednesday. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.08), FiscalAI reports. The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.44 million. SeaStar Medical had a negative net margin of 984.60% and a negative return on equity of 188.47%.

Here are the key takeaways from SeaStar Medical’s conference call:

• SeaStar said QUELIMMUNE net revenue rose nearly 70% year over year to $495,000 in Q1 2026, driven by seven new hospital adoptions, and the company reiterated its full-year revenue target of about $2 million.
• The company reported continued progress in the NEUTRALIZE-AKI adult AKI pivotal trial, with 198 of 339 patients enrolled and additional sites being added to support completion of enrollment around year-end 2026.
• Management is working with the FDA on a modular PMA approach for adult AKI and on a potential rapid approval pathway for its SCD therapy, which they believe could speed review if trial results are positive.
• SeaStar highlighted growing clinical recognition of its technology, citing strong interest at the AKI & CRRT meeting, coverage in ASN Kidney News, and repeat ordering behavior from hospitals once they gain experience with the therapy.
• Financially, operating expenses were essentially flat at about $4.1 million, gross margin remained above 90%, and the company ended the quarter with $9.3 million in cash, while guiding for modest R&D expense increases and steady G&A spending through 2026.

SeaStar Medical Stock Performance

SeaStar Medical stock traded down $0.11 during trading on Thursday, reaching $4.50. 103,975 shares of the company’s stock were exchanged, compared to its average volume of 136,555. The company’s 50-day moving average is $3.56 and its two-hundred day moving average is $3.33. SeaStar Medical has a 52-week low of $2.07 and a 52-week high of $13.40. The firm has a market cap of $17.98 million, a price-to-earnings ratio of -0.55 and a beta of -1.04.

Institutional Trading of SeaStar Medical

A number of institutional investors have recently added to or reduced their stakes in ICU. XTX Topco Ltd boosted its position in SeaStar Medical by 395.4% during the 2nd 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. Jane Street Group LLC purchased a new stake in SeaStar Medical during the 4th quarter worth $30,000. Finally, Millennium Management LLC purchased a new position in SeaStar Medical in the 3rd quarter valued at about $102,000. 1.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Maxim Group set a $8.00 price target on SeaStar Medical in a report on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of SeaStar Medical in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, SeaStar Medical has an average rating of “Sell” and a consensus target price of $8.00.

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.