Seelos Therapeutics Inc. [NASDAQ: SEEL] traded at a low on 05/24/21, posting a -1.23 loss after which it closed the day’ session at $3.22. The company report on May 25, 2021 that Seelos Therapeutics Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares.
Seelos Therapeutics, Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system (CNS) disorders and rare diseases, announced the closing of its previously announced underwritten public offering of 22,258,066 shares of its common stock, at a price to the public of $3.10 per share, which includes the exercise in full by the underwriters of their option to purchase up to 2,903,226 additional shares of common stock. The net proceeds to Seelos from this offering are expected to be approximately $64.5 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Seelos. Seelos intends to use an aggregate of $7.3 million of the net proceeds from the offering for the partial repayment of certain outstanding convertible promissory notes and the remainder for general corporate purposes and to advance the development of its product candidates.
Guggenheim Securities and Cantor acted as joint book-running managers for the offering. BTIG acted as lead manager for the offering. The Benchmark Company acted as a financial advisor for the offering.
The results of the trading session contributed to over 6930600 shares changing hands. Over the past one week, the price volatility of Seelos Therapeutics Inc. stands at 11.81% while the volatility over the past one month is 10.34%.
The market cap for SEEL stock reached $256.12 million, with 78.58 million shares outstanding and 73.62 million shares in the current float. Compared to the average trading volume of 10.25M shares, SEEL reached a trading volume of 6930600 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Seelos Therapeutics Inc. [SEEL]?
ROTH Capital have made an estimate for Seelos Therapeutics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 17, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on March 30, 2021, representing the official price target for Seelos Therapeutics Inc. stock. Previously, the target price had yet another raise to $4, while The Benchmark Company analysts kept a Speculative Buy rating on SEEL stock.
The Average True Range (ATR) for Seelos Therapeutics Inc. is set at 0.50 The Price to Book ratio for the last quarter was 8.94, with the Price to Cash per share for the same quarter was set at 0.49.
How has SEEL stock performed recently?
Seelos Therapeutics Inc. [SEEL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.07. With this latest performance, SEEL shares dropped by -48.48% in over the last four-week period, additionally plugging by 298.86% over the last 6 months – not to mention a rise of 147.69% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SEEL stock in for the last two-week period is set at 31.30, with the RSI for the last a single of trading hit 25.29, and the three-weeks RSI is set at 36.68 for Seelos Therapeutics Inc. [SEEL]. The present Moving Average for the last 50 days of trading for this stock 4.91, while it was recorded at 3.25 for the last single week of trading, and 2.36 for the last 200 days.
Seelos Therapeutics Inc. [SEEL]: Deeper insight into the fundamentals
Return on Total Capital for SEEL is now -305.30, given the latest momentum, and Return on Invested Capital for the company is -387.52. Return on Equity for this stock declined to -1,489.36, with Return on Assets sitting at -133.62. When it comes to the capital structure of this company, Seelos Therapeutics Inc. [SEEL] has a Total Debt to Total Equity ratio set at 378.07. Additionally, SEEL Total Debt to Total Capital is recorded at 79.08, with Total Debt to Total Assets ending up at 55.58. Long-Term Debt to Equity for the company is recorded at 283.55, with the Long-Term Debt to Total Capital now at 59.31.
Reflecting on the efficiency of the workforce at the company, Seelos Therapeutics Inc. [SEEL] managed to generate an average of -$1,910,100 per employee.Seelos Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.
Earnings analysis for Seelos Therapeutics Inc. [SEEL]
With the latest financial reports released by the company, Seelos Therapeutics Inc. posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 38.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SEEL.
Insider trade positions for Seelos Therapeutics Inc. [SEEL]
There are presently around $81 million, or 34.80% of SEEL stock, in the hands of institutional investors. The top three institutional holders of SEEL stocks are: INVESCO LTD. with ownership of 3,464,259, which is approximately New of the company’s market cap and around 6.55% of the total institutional ownership; VANGUARD GROUP INC, holding 2,921,164 shares of the stock with an approximate value of $9.41 million in SEEL stocks shares; and MANGROVE PARTNERS, currently with $6.96 million in SEEL stock with ownership of nearly New of the company’s market capitalization.
Positions in Seelos Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 60 institutional holders increased their position in Seelos Therapeutics Inc. [NASDAQ:SEEL] by around 19,056,565 shares. Additionally, 13 investors decreased positions by around 1,529,344 shares, while 4 investors held positions by with 4,435,136 shares. The mentioned changes placed institutional holdings at 25,021,045 shares, according to the latest SEC report filing. SEEL stock had 46 new institutional investments in for a total of 16,536,133 shares, while 6 institutional investors sold positions of 893,860 shares during the same period.