Seelos Therapeutics (NASDAQ:SEEL) Shares Down 25% – Here’s Why

Seelos Therapeutics, Inc. (NASDAQ:SEEL)’s stock price dropped 25% during mid-day trading on Friday . The company traded as low as $0.54 and last traded at $0.54. Approximately 47,441 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 175,285 shares. The stock had previously closed at $0.72.

Seelos Therapeutics Trading Down 25.0 %

The firm has a fifty day moving average of $2.21 and a 200-day moving average of $9.88.

Seelos Therapeutics (NASDAQ:SEEL) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.92 EPS for the quarter. The company had revenue of $0.38 million during the quarter.

Institutional Trading of Seelos Therapeutics

An institutional investor recently raised its position in Seelos Therapeutics stock. Gendell Jeffrey L increased its position in Seelos Therapeutics, Inc. (NASDAQ:SEEL) by 284.3% during the first quarter, according to the company in its most recent 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 quarter. Gendell Jeffrey L owned approximately 2.58% of Seelos Therapeutics worth $254,000 as of its most recent SEC filing. 23.37% of the stock is owned by institutional investors.

About Seelos Therapeutics

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).