SeaStar Medical (NASDAQ:ICU) Posts Earnings Results, Beats Expectations By $0.02 EPS

SeaStar Medical (NASDAQ:ICU) posted its quarterly earnings results on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02, Zacks reports. SeaStar Medical had a negative return on equity of 2,379.28% and a negative net margin of 1,551.08%.The business had revenue of $0.18 million for the quarter, compared to analyst estimates of $0.25 million.

SeaStar Medical Price Performance

Shares of NASDAQ ICU traded down $0.08 during mid-day trading on Friday, hitting $0.38. The company had a trading volume of 1,908,280 shares, compared to its average volume of 795,491. SeaStar Medical has a 12 month low of $0.31 and a 12 month high of $3.07. The stock has a market cap of $12.96 million, a price-to-earnings ratio of -0.23 and a beta of -1.06. The firm’s 50 day simple moving average is $0.67 and its two-hundred day simple moving average is $0.82.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SeaStar Medical in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On SeaStar Medical

An institutional investor recently raised its position in SeaStar Medical stock. XTX Topco Ltd lifted its holdings in shares of SeaStar Medical Holding Corporation (NASDAQ:ICU) by 395.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,983 shares of the company’s stock after buying an additional 48,674 shares during the period. XTX Topco Ltd owned approximately 0.54% of SeaStar Medical worth $26,000 at the end of the most recent reporting period. 1.69% of the stock is owned by institutional investors.

About SeaStar Medical

SeaStar Medical Holding Corporation, a medical device company, develops a platform therapy to reduce the consequences of hyperinflammation on vital organs in the United States. The company offers inflammatory response to fend off infections and repair damaged tissue in the body. It is also developing products in various therapeutic areas, including pediatric and adult acute kidney injury on CRRT; cardiorenal syndrome in congestive heart failure; myocardial stunning in end stage renal disease; and hepatorenal syndrome.