Insider Buying: Seelos Therapeutics Inc (NASDAQ:SEEL) Major Shareholder Buys 133,333 Shares of Stock

Seelos Therapeutics Inc (NASDAQ:SEEL) major shareholder Raj Mehra bought 133,333 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $0.93 per share, for a total transaction of $123,999.69. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of SEEL traded up $0.11 during mid-day trading on Friday, hitting $0.93. 1,670,050 shares of the company’s stock were exchanged, compared to its average volume of 771,089. The firm has a fifty day moving average of $1.24 and a two-hundred day moving average of $1.18. Seelos Therapeutics Inc has a twelve month low of $0.72 and a twelve month high of $7.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.93 and a current ratio of 2.93.

A number of research firms have recently weighed in on SEEL. HC Wainwright raised their price target on Seelos Therapeutics from $2.00 to $4.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Benchmark initiated coverage on Seelos Therapeutics in a report on Thursday, November 14th. They set a “buy” rating and a $4.00 price target for the company. Finally, Zacks Investment Research cut Seelos Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Seelos Therapeutics has an average rating of “Buy” and a consensus price target of $4.44.

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp acquired a new position in Seelos Therapeutics during the second quarter worth $25,000. Virtu Financial LLC bought a new position in Seelos Therapeutics during the third quarter valued at about $68,000. Wedbush Securities Inc. lifted its position in shares of Seelos Therapeutics by 412.7% in the third quarter. Wedbush Securities Inc. now owns 82,028 shares of the company’s stock worth $75,000 after buying an additional 66,028 shares during the last quarter. Sabby Management LLC acquired a new stake in shares of Seelos Therapeutics in the third quarter worth about $451,000. Finally, Vanguard Group Inc. lifted its position in shares of Seelos Therapeutics by 104.2% in the second quarter. Vanguard Group Inc. now owns 239,222 shares of the company’s stock worth $524,000 after buying an additional 122,086 shares during the last quarter. Institutional investors and hedge funds own 12.07% of the company’s stock.

Seelos Therapeutics Company Profile

Seelos Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing technologies and therapeutics for the treatment of central nervous system, respiratory, and other disorders. The company is focused on neurological and psychiatric disorders, including orphan indications. Its lead programs are SLS-002, an intranasal racemic ketamine for the treatment of suicidality in post-traumatic stress disorder and in depressive disorder; and SLS-006, a partial dopamine agonist for monotherapy in early stage Parkinson's disease patients.

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