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

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

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

Cytosorbents Stock Down 4.5 %

NASDAQ CTSO opened at $0.93 on Friday. The business has a fifty day moving average price of $1.13 and a two-hundred day moving average price of $1.01. The stock has a market capitalization of $50.63 million, a PE ratio of -2.57 and a beta of 0.56. Cytosorbents has a fifty-two week low of $0.70 and a fifty-two week high of $2.15. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.97 and a quick ratio of 1.71.

Cytosorbents (NASDAQ:CTSO) last released its quarterly earnings data on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Cytosorbents had a negative net margin of 49.47% and a negative return on equity of 118.54%. The business had revenue of $9.89 million during the quarter, compared to analysts’ expectations of $9.73 million. During the same period in the prior year, the company earned ($0.14) EPS. Equities analysts expect that Cytosorbents will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cytosorbents

Institutional investors and hedge funds have recently made changes to their positions in the business. 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 increased its stake in shares of Cytosorbents by 4.9% in the 2nd quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock valued at $1,008,000 after acquiring an additional 67,181 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Cytosorbents during the 3rd quarter valued at $51,000. Finally, Avenir Corp boosted its stake in Cytosorbents by 4.0% during the first quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock worth $3,014,000 after acquiring an additional 121,294 shares in the last quarter. Institutional investors own 32.87% of the company’s stock.

About Cytosorbents

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.