SeaStar Medical (NASDAQ:ICU) Posts Earnings Results, Misses Estimates By $0.08 EPS

SeaStar Medical (NASDAQ:ICU) posted its earnings results on Wednesday. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.08), FiscalAI reports. SeaStar Medical had a negative net margin of 828.62% and a negative return on equity of 141.54%. The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.44 million.

Here are the key takeaways from SeaStar Medical’s conference call:

• SeaStar said QUELIMMUNE net revenue rose nearly 70% year over year to $495,000 in Q1 2026, driven by seven new hospital adoptions, and the company reiterated its full-year revenue target of about $2 million.
• The company reported continued progress in the NEUTRALIZE-AKI adult AKI pivotal trial, with 198 of 339 patients enrolled and additional sites being added to support completion of enrollment around year-end 2026.
• Management is working with the FDA on a modular PMA approach for adult AKI and on a potential rapid approval pathway for its SCD therapy, which they believe could speed review if trial results are positive.
• SeaStar highlighted growing clinical recognition of its technology, citing strong interest at the AKI & CRRT meeting, coverage in ASN Kidney News, and repeat ordering behavior from hospitals once they gain experience with the therapy.
• Financially, operating expenses were essentially flat at about $4.1 million, gross margin remained above 90%, and the company ended the quarter with $9.3 million in cash, while guiding for modest R&D expense increases and steady G&A spending through 2026.

SeaStar Medical Trading Down 3.7%

ICU stock traded down $0.15 during trading on Friday, reaching $4.05. The stock had a trading volume of 44,965 shares, compared to its average volume of 136,254. The firm has a fifty day moving average price of $3.59 and a 200 day moving average price of $3.31. The company has a market capitalization of $16.18 million, a P/E ratio of -0.85 and a beta of -1.04. SeaStar Medical has a 1-year low of $2.07 and a 1-year high of $13.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SeaStar Medical in a research report on Tuesday, April 21st. Maxim Group set a $8.00 price target on SeaStar Medical and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.00.

Institutional Investors Weigh In On SeaStar Medical

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd raised its position in shares of SeaStar Medical by 395.4% in the 2nd 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 in the last quarter. Jane Street Group LLC bought a new stake in shares of SeaStar Medical in the fourth quarter worth $30,000. Finally, Millennium Management LLC bought a new stake in shares of SeaStar Medical in the third quarter worth $102,000. Institutional investors and hedge funds own 1.69% of the company’s stock.

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.