Traders Purchase Large Volume of Seelos Therapeutics Call Options (NASDAQ:SEEL)

Seelos Therapeutics, Inc. (NASDAQ:SEEL) saw unusually large options trading activity on Tuesday. Stock traders purchased 13,873 call options on the stock. This represents an increase of 752% compared to the average daily volume of 1,629 call options.

A number of hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its position in shares of Seelos Therapeutics by 9.2% during the first quarter. HighTower Advisors LLC now owns 24,660 shares of the company’s stock worth $123,000 after acquiring an additional 2,075 shares during the last quarter. Morgan Stanley grew its position in shares of Seelos Therapeutics by 115.6% during the first quarter. Morgan Stanley now owns 8,622 shares of the company’s stock worth $43,000 after acquiring an additional 4,622 shares during the last quarter. Royal Bank of Canada bought a new position in shares of Seelos Therapeutics during the first quarter worth about $32,000. UBS Group AG grew its position in shares of Seelos Therapeutics by 22,020.5% during the first quarter. UBS Group AG now owns 8,627 shares of the company’s stock worth $43,000 after acquiring an additional 8,588 shares during the last quarter. Finally, Financial Counselors Inc. bought a new position in shares of Seelos Therapeutics during the second quarter worth about $26,000. Hedge funds and other institutional investors own 39.90% of the company’s stock.

SEEL stock opened at $2.16 on Wednesday. Seelos Therapeutics has a 1-year low of $0.56 and a 1-year high of $6.60. The firm has a fifty day moving average price of $2.15 and a two-hundred day moving average price of $3.40. The firm has a market cap of $221.00 million, a price-to-earnings ratio of -3.60 and a beta of 3.05.

Seelos Therapeutics (NASDAQ:SEEL) last released its earnings results on Monday, August 9th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.09. As a group, equities research analysts predict that Seelos Therapeutics will post -0.57 earnings per share for the current fiscal year.

SEEL has been the subject of several research reports. Guggenheim initiated coverage on shares of Seelos Therapeutics in a research note on Thursday, July 1st. They set a “buy” rating and a $8.00 price objective for the company. Zacks Investment Research raised shares of Seelos Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 11th. B. Riley reduced their target price on shares of Seelos Therapeutics from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 18th. Roth Capital reduced their target price on shares of Seelos Therapeutics from $4.00 to $2.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 10th. Finally, Cantor Fitzgerald started coverage on shares of Seelos Therapeutics in a research report on Tuesday, June 1st. They set an “overweight” rating and a $10.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Seelos Therapeutics presently has an average rating of “Buy” and a consensus price target of $8.54.

Seelos Therapeutics Company Profile

Seelos Therapeutics, Inc is a clinical-stage biopharmaceutical company. It focuses on development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system disorders. The firm’s portfolio includes several late-stage clinical assets targeting indications including Acute Suicidal Ideation and Behavior in Major Depressive Disorder ´┐Żor Post-Traumatic Stress Disorder, ´┐Żamyotrophic lateral sclerosis, Sanfilippo syndrome, Parkinson’s disease, other psychiatric and movement disorders plus orphan diseases.

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