Seelos Therapeutics (NASDAQ:SEEL) Shares Set to Reverse Split on Friday, September 27th

Seelos Therapeutics, Inc. (NASDAQ:SEEL)’s stock is going to reverse split on the morning of Friday, September 27th. The 1-16 reverse split was announced on Wednesday, September 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, September 26th.

Seelos Therapeutics Stock Up 13.1 %

NASDAQ:SEEL traded up $0.04 during mid-day trading on Wednesday, reaching $0.34. 29,494,923 shares of the company were exchanged, compared to its average volume of 2,727,255. Seelos Therapeutics has a 12 month low of $0.18 and a 12 month high of $53.04. The company has a fifty day moving average of $0.31 and a 200 day moving average of $1.73.

Seelos Therapeutics (NASDAQ:SEEL) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 EPS for the quarter. The company had revenue of $0.38 million for the quarter.

Institutional Investors Weigh In On Seelos Therapeutics

A hedge fund recently raised its stake in Seelos Therapeutics stock. Gendell Jeffrey L boosted its stake in Seelos Therapeutics, Inc. (NASDAQ:SEEL) by 284.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 428,966 shares of the company’s stock after purchasing an additional 317,351 shares during the quarter. Gendell Jeffrey L owned about 2.58% of Seelos Therapeutics worth $254,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 23.37% of the company’s stock.

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).