StockNews.com Begins Coverage on Cytosorbents (NASDAQ:CTSO)

by · The Markets Daily

StockNews.com assumed coverage on shares of Cytosorbents (NASDAQ:CTSO – Free Report) in a research note released on Wednesday. The firm issued a hold rating on the medical research company’s stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright reiterated a neutral rating and issued a $1.00 price target on shares of Cytosorbents in a report on Wednesday, August 14th. EF Hutton Acquisition Co. I upgraded Cytosorbents to a strong-buy rating in a report on Monday, July 29th.

View Our Latest Stock Report on Cytosorbents

Cytosorbents Price Performance

Shares of NASDAQ:CTSO opened at $1.12 on Wednesday. The company has a market cap of $60.82 million, a P/E ratio of -1.90 and a beta of 0.51. The business has a fifty day simple moving average of $1.14 and a 200-day simple moving average of $0.99. Cytosorbents has a 52 week low of $0.70 and a 52 week high of $2.15. The company has a quick ratio of 1.71, a current ratio of 2.12 and a debt-to-equity ratio of 0.82.

Cytosorbents (NASDAQ:CTSO – Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The medical research company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $9.89 million during the quarter, compared to analysts’ expectations of $9.73 million. Cytosorbents had a negative return on equity of 131.84% and a negative net margin of 68.70%. During the same quarter in the previous year, the business earned ($0.14) EPS. Equities research analysts forecast that Cytosorbents will post -0.32 EPS for the current year.

Hedge Funds Weigh In On Cytosorbents

A number of hedge funds have recently made changes to their positions in CTSO. Key Client Fiduciary Advisors LLC raised its holdings in shares of Cytosorbents by 188.0% during the 1st quarter. Key Client Fiduciary Advisors LLC now owns 34,557 shares of the medical research company’s stock valued at $33,000 after buying an additional 22,557 shares during the period. CM Management LLC raised its stake in shares of Cytosorbents by 98.8% during the first quarter. CM Management LLC now owns 825,000 shares of the medical research company’s stock valued at $784,000 after purchasing an additional 410,000 shares during the period. Avenir Corp raised its stake in shares of Cytosorbents by 4.0% during the first quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock valued at $3,014,000 after purchasing an additional 121,294 shares during the period. Sargent Investment Group LLC lifted its position in shares of Cytosorbents by 4.9% during the second quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock worth $1,008,000 after purchasing an additional 67,181 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new position in shares of Cytosorbents in the third quarter valued at $51,000. Hedge funds and other institutional investors own 32.87% of the company’s stock.

Cytosorbents Company Profile

(Get Free Report)

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.

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