Seelos Therapeutics, Inc. (NASDAQ:SEEL) Sees Significant Drop in Short Interest

Seelos Therapeutics, Inc. (NASDAQ:SEEL) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 136,100 shares, a decrease of 36.9% from the June 15th total of 215,600 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average daily volume of 403,300 shares, the days-to-cover ratio is presently 0.3 days.

Seelos Therapeutics Price Performance

NASDAQ SEEL traded down $0.09 during trading on Friday, hitting $0.58. 1,165,714 shares of the company’s stock traded hands, compared to its average volume of 1,193,846. Seelos Therapeutics has a 12-month low of $0.47 and a 12-month high of $398.40. The business has a 50 day moving average of $1.16 and a 200-day moving average of $4.92.

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

Institutional Investors Weigh In On Seelos Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SEEL. Modera Wealth Management LLC increased its position in shares of Seelos Therapeutics by 40.4% during the third quarter. Modera Wealth Management LLC now owns 1,223,776 shares of the company’s stock valued at $225,000 after buying an additional 352,271 shares during the period. Gendell Jeffrey L increased its position in shares of Seelos Therapeutics by 284.3% in the first quarter. Gendell Jeffrey L now owns 428,966 shares of the company’s stock worth $254,000 after purchasing an additional 317,351 shares during the last quarter. Finally, Wealth Effects LLC increased its position in shares of Seelos Therapeutics by 104.1% in the first quarter. Wealth Effects LLC now owns 466,660 shares of the company’s stock worth $276,000 after purchasing an additional 238,067 shares during the last quarter. 23.37% of the stock is currently owned by institutional investors.

About Seelos Therapeutics

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).