SeaStar Medical Stock Set to Reverse Split on Monday, January 5th (NASDAQ:ICU)

Shares of SeaStar Medical Holding Corporation (NASDAQ:ICU) are set to reverse split on the morning of Monday, January 5th. The 1-10 reverse split was announced on Tuesday, December 23rd. The number of shares owned by shareholders will be adjusted after the market closes on Friday, January 2nd.

SeaStar Medical Stock Up 5.3%

Shares of NASDAQ ICU opened at $0.24 on Thursday. The firm has a market cap of $8.65 million, a price-to-earnings ratio of -0.15 and a beta of -1.03. The company’s 50-day simple moving average is $0.38 and its 200-day simple moving average is $0.60. SeaStar Medical has a 52-week low of $0.22 and a 52-week high of $3.07.

SeaStar Medical (NASDAQ:ICU) last released its earnings results on Thursday, November 13th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $0.18 million during the quarter, compared to analysts’ expectations of $0.25 million. SeaStar Medical had a negative net margin of 1,551.08% and a negative return on equity of 414.50%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SeaStar Medical in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SeaStar Medical presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ICU. Millennium Management LLC acquired a new position in shares of SeaStar Medical during the 3rd quarter worth approximately $102,000. XTX Topco Ltd increased its holdings in shares of SeaStar Medical by 395.4% in the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock valued at $26,000 after purchasing an additional 48,674 shares during the last quarter. Finally, Trinity Financial Advisors LLC lifted its position in SeaStar Medical by 233.3% during the third quarter. Trinity Financial Advisors LLC now owns 50,000 shares of the company’s stock worth $28,000 after buying an additional 35,000 shares in the last quarter. 1.69% of the stock is owned by hedge funds and other institutional investors.

About SeaStar Medical

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.