SeaStar Medical (NASDAQ:ICU) Rating Lowered to “Sell” at Wall Street Zen

SeaStar Medical (NASDAQ:ICU) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Several other research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SeaStar Medical in a research note on Friday, July 17th. Maxim Group set a $8.00 price target on SeaStar Medical and gave the stock a “buy” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SeaStar Medical currently has a consensus rating of “Hold” and an average price target of $8.00.

SeaStar Medical Stock Down 4.8%

ICU stock opened at $3.19 on Friday. The business has a fifty day moving average of $3.71 and a two-hundred day moving average of $3.45. The stock has a market cap of $14.06 million, a price-to-earnings ratio of -0.82 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 announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.06. The business had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.49 million. SeaStar Medical had a negative return on equity of 162.75% and a negative net margin of 795.51%. As a group, sell-side analysts anticipate that SeaStar Medical will post -3.66 EPS for the current year.

Hedge Funds Weigh In On SeaStar Medical

Institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new position in SeaStar Medical in the third quarter valued at $102,000. Jane Street Group LLC purchased a new stake in SeaStar Medical during the 4th quarter worth about $30,000. Finally, XTX Topco Ltd increased its holdings 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. Institutional investors and hedge funds own 1.69% of the company’s stock.

About SeaStar Medical

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.