SeaStar Medical Holding Corporation (NASDAQ:ICU) Sees Significant Drop in Short Interest

SeaStar Medical Holding Corporation (NASDAQ:ICU) was the recipient of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 233,272 shares, a decline of 18.5% from the February 12th total of 286,335 shares. Approximately 6.2% of the company’s shares are sold short. Based on an average daily volume of 43,336 shares, the days-to-cover ratio is currently 5.4 days. Based on an average daily volume of 43,336 shares, the days-to-cover ratio is currently 5.4 days. Approximately 6.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ICU. XTX Topco Ltd lifted its stake in shares of 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 purchasing an additional 48,674 shares during the last quarter. Trinity Financial Advisors LLC raised its holdings in SeaStar Medical by 233.3% in the third quarter. Trinity Financial Advisors LLC now owns 50,000 shares of the company’s stock worth $28,000 after purchasing an additional 35,000 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of SeaStar Medical during the third quarter valued at about $102,000. Finally, Jane Street Group LLC purchased a new stake in shares of SeaStar Medical during the fourth quarter valued at about $30,000. 1.69% of the stock is currently owned by hedge funds and other institutional investors.

SeaStar Medical Trading Up 3.3%

Shares of ICU traded up $0.08 during mid-day trading on Tuesday, hitting $2.48. The company’s stock had a trading volume of 27,482 shares, compared to its average volume of 57,553. The company’s 50-day moving average is $2.49 and its 200-day moving average is $4.37. SeaStar Medical has a 52-week low of $2.20 and a 52-week high of $25.70. The firm has a market capitalization of $9.40 million, a price-to-earnings ratio of -0.15 and a beta of -1.04.

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.