SeaStar Medical (NASDAQ:ICU) Shares Up 6.6% – Here’s Why

SeaStar Medical Holding Corporation (NASDAQ:ICU)’s share price shot up 6.6% on Monday. The company traded as high as $3.95 and last traded at $3.85. 116,055 shares traded hands during trading, a decline of 37% from the average daily volume of 183,564 shares. The stock had previously closed at $3.61.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen raised SeaStar Medical from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Weiss Ratings restated a “sell (e+)” rating on shares of SeaStar Medical in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, SeaStar Medical has an average rating of “Hold” and an average price target of $8.00.

SeaStar Medical Price Performance

The firm has a market capitalization of $13.27 million, a price-to-earnings ratio of -0.77 and a beta of -1.09. The business has a 50 day moving average of $3.34 and a 200 day moving average of $3.68.

SeaStar Medical (NASDAQ:ICU) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.06. SeaStar Medical had a negative net margin of 795.51% and a negative return on equity of 162.75%. The firm had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.49 million. On average, sell-side analysts forecast that SeaStar Medical Holding Corporation will post -3.66 EPS for the current fiscal year.

About SeaStar Medical

SeaStar Medical Holding Corporation is a medical device company focused on developing and commercializing therapies for conditions associated with excessive inflammation, including acute kidney injury and other critical illnesses. The company’s technology is designed to target activated immune cells and reduce the inflammatory response that can contribute to organ damage.

Its lead product is the Selective Cytopheretic Device (SCD), an extracorporeal blood-processing device intended to be used with continuous renal replacement therapy.