Seelos Therapeutics (NASDAQ:SEEL) Trading Down 25% – Should You Sell?

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

Seelos Therapeutics Trading Down 25.0 %

The stock has a fifty day moving average price of $2.27 and a 200-day moving average price of $10.13.

Seelos Therapeutics (NASDAQ:SEEL) last issued its earnings results on Wednesday, August 14th. The company reported $1.92 earnings per share (EPS) for the quarter. The firm had revenue of $0.38 million for the quarter.

Hedge Funds Weigh In On Seelos Therapeutics

A hedge fund recently raised its stake in Seelos Therapeutics stock. Gendell Jeffrey L increased its stake in shares of Seelos Therapeutics, Inc. (NASDAQ:SEEL) by 284.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 428,966 shares of the company’s stock after acquiring an additional 317,351 shares during the period. Gendell Jeffrey L owned approximately 2.58% of Seelos Therapeutics worth $254,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.37% of the company’s stock.

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).