SeaStar Medical (NASDAQ:ICU) Releases Earnings Results, Beats Estimates By $0.17 EPS

SeaStar Medical (NASDAQ:ICU) released its quarterly earnings results on Wednesday. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.17, FiscalAI reports. The firm had revenue of $0.42 million during the quarter, compared to the consensus estimate of $0.22 million. SeaStar Medical had a negative net margin of 1,551.08% and a negative return on equity of 414.50%.

SeaStar Medical Stock Up 1.8%

Shares of NASDAQ ICU traded up $0.04 during mid-day trading on Wednesday, hitting $2.28. 77,489 shares of the company were exchanged, compared to its average volume of 102,432. The stock has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $4.14. SeaStar Medical has a 1-year low of $2.07 and a 1-year high of $25.70. The firm has a market cap of $8.64 million, a price-to-earnings ratio of -0.14 and a beta of -1.04.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ICU. Wall Street Zen raised shares of SeaStar Medical to a “hold” rating in a research report on Saturday, January 10th. Maxim Group set a $6.00 target price on shares of SeaStar Medical in a research note on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SeaStar Medical in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus target price of $6.00.

Hedge Funds Weigh In On SeaStar Medical

Several institutional investors have recently bought and sold shares of ICU. XTX Topco Ltd raised 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 buying an additional 48,674 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of SeaStar Medical in the 4th quarter worth $30,000. Finally, Millennium Management LLC purchased a new stake in shares of SeaStar Medical in the third quarter valued at about $102,000. 1.69% of the stock is owned by institutional investors and hedge funds.

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.