Seelos Therapeutics, Inc. (NASDAQ:SEEL) Sees Large Increase in Short Interest

Seelos Therapeutics, Inc. (NASDAQ:SEEL) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 295,000 shares, an increase of 116.8% from the June 30th total of 136,100 shares. Currently, 10.9% of the company’s stock are short sold. Based on an average daily volume of 488,800 shares, the days-to-cover ratio is presently 0.6 days.

Seelos Therapeutics Stock Performance

SEEL traded down $0.03 during trading on Friday, hitting $0.44. 298,842 shares of the company’s stock were exchanged, compared to its average volume of 1,329,906. The business’s 50 day moving average is $0.85 and its two-hundred day moving average is $4.14. Seelos Therapeutics has a fifty-two week low of $0.43 and a fifty-two week high of $398.40.

Seelos Therapeutics (NASDAQ:SEEL) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($1.60) EPS for the quarter. The firm had revenue of $0.58 million during the quarter.

Hedge Funds Weigh In On Seelos Therapeutics

An institutional investor recently raised its position in Seelos Therapeutics stock. Wealth Effects LLC increased its position in shares of Seelos Therapeutics, Inc. (NASDAQ:SEEL) by 104.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 466,660 shares of the company’s stock after purchasing an additional 238,067 shares during the quarter. Wealth Effects LLC owned approximately 3.41% of Seelos Therapeutics worth $276,000 as of its most recent SEC filing. 23.37% of the stock is owned by institutional investors and hedge funds.

Seelos Therapeutics Company Profile

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).