Cytosorbents (NASDAQ:CTSO) Share Price Crosses Above Two Hundred Day Moving Average of $7.04

Cytosorbents Corp (NASDAQ:CTSO)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.04 and traded as high as $4.93. Cytosorbents shares last traded at $4.66, with a volume of 8,386 shares trading hands.

CTSO has been the subject of a number of analyst reports. ValuEngine lowered shares of Cytosorbents from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. B. Riley set a $12.00 price objective on shares of Cytosorbents and gave the company a “buy” rating in a research note on Friday, July 19th. Maxim Group set a $14.00 price objective on shares of Cytosorbents and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating on shares of Cytosorbents in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Cytosorbents presently has an average rating of “Hold” and an average target price of $13.67.

The business’s 50 day moving average price is $6.40 and its 200 day moving average price is $7.04. The stock has a market capitalization of $154.09 million, a P/E ratio of -8.04 and a beta of 1.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.21 and a quick ratio of 3.00.

Cytosorbents (NASDAQ:CTSO) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Cytosorbents had a negative net margin of 72.43% and a negative return on equity of 105.97%. The firm had revenue of $6.23 million during the quarter, compared to analyst estimates of $6.53 million. As a group, analysts forecast that Cytosorbents Corp will post -0.53 earnings per share for the current fiscal year.

In related news, CFO Kathleen P. Bloch purchased 6,500 shares of Cytosorbents stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of $4.83 per share, for a total transaction of $31,395.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in Cytosorbents by 1.1% during the second quarter. BlackRock Inc. now owns 2,008,123 shares of the medical research company’s stock valued at $13,274,000 after buying an additional 21,791 shares during the period. Vanguard Group Inc. grew its position in Cytosorbents by 0.5% during the second quarter. Vanguard Group Inc. now owns 1,375,707 shares of the medical research company’s stock valued at $9,094,000 after buying an additional 6,698 shares during the period. Skylands Capital LLC grew its position in Cytosorbents by 7.0% during the second quarter. Skylands Capital LLC now owns 680,600 shares of the medical research company’s stock valued at $4,499,000 after buying an additional 44,550 shares during the period. Northern Trust Corp grew its position in Cytosorbents by 1.7% during the second quarter. Northern Trust Corp now owns 354,447 shares of the medical research company’s stock valued at $2,343,000 after buying an additional 5,852 shares during the period. Finally, Sargent Investment Group LLC grew its position in Cytosorbents by 15.9% during the second quarter. Sargent Investment Group LLC now owns 333,910 shares of the medical research company’s stock valued at $2,207,000 after buying an additional 45,840 shares during the period. Hedge funds and other institutional investors own 26.32% of the company’s stock.

Cytosorbents Company Profile (NASDAQ:CTSO)

Cytosorbents Corporation, a critical care focused immunotherapy company, engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology worldwide. The company's flagship product is CytoSorb device, an extracorporeal cytokine filter designed for the adjunctive therapy in the treatment of sepsis; adjunctive therapy in other critical care applications; prevention and treatment of post-operative complications of cardiopulmonary bypass surgery; and prevention and treatment of organ dysfunction in brain-dead organ donors to increase the number and quality of viable organs harvested from donors.

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