Cytosorbents (NASDAQ:CTSO) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the medical research company’s stock.

Several other brokerages also recently issued reports on CTSO. EF Hutton Acquisition Co. I raised Cytosorbents to a “strong-buy” rating in a research report on Monday, July 29th. HC Wainwright reissued a “neutral” rating and issued a $1.00 price target on shares of Cytosorbents in a report on Wednesday, August 14th.

Cytosorbents Trading Down 18.1 %

NASDAQ:CTSO opened at $0.74 on Friday. The stock’s 50-day moving average is $1.13 and its two-hundred day moving average is $1.01. Cytosorbents has a fifty-two week low of $0.70 and a fifty-two week high of $2.15. The stock has a market cap of $40.28 million, a PE ratio of -1.40 and a beta of 0.56. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.12 and a quick ratio of 1.71.

Cytosorbents (NASDAQ:CTSO) last posted its quarterly earnings results on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Cytosorbents had a negative return on equity of 131.84% and a negative net margin of 68.70%. The company had revenue of $9.89 million during the quarter, compared to the consensus estimate of $9.73 million. During the same period last year, the business earned ($0.14) EPS. As a group, equities research analysts forecast that Cytosorbents will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Cytosorbents

A number of hedge funds and other institutional investors have recently modified their holdings of CTSO. Atomi Financial Group Inc. acquired a new stake in Cytosorbents in the third quarter worth about $51,000. CM Management LLC lifted its stake in Cytosorbents by 3.0% in the second quarter. CM Management LLC now owns 850,000 shares of the medical research company’s stock valued at $598,000 after buying an additional 25,000 shares during the period. Sargent Investment Group LLC raised its holdings in Cytosorbents by 4.9% during the 2nd quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock worth $1,008,000 after buying an additional 67,181 shares during the period. Finally, Avenir Corp lifted its position in Cytosorbents by 4.0% in the 1st quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock valued at $3,014,000 after acquiring an additional 121,294 shares in the last quarter. Institutional investors and hedge funds own 32.87% of the company’s stock.

Cytosorbents Company Profile

Cytosorbents Corporation engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology in the United States, Germany, and internationally. Its flagship product is CytoSorb, an extracorporeal cytokine adsorber for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention, and treatment of perioperative complications, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant; and offers VetResQ, a device for adjunctive therapy in the treatment of sepsis, pancreatitis, and other critical illnesses in animals.