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

Equities research analysts at StockNews.com started coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research report issued on Monday. The firm set a “hold” rating on the medical research company’s stock.

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

Cytosorbents Stock Down 8.6 %

Shares of NASDAQ CTSO opened at $1.39 on Monday. The stock has a market capitalization of $75.49 million, a price-to-earnings ratio of -2.36 and a beta of 0.50. Cytosorbents has a 12-month low of $0.70 and a 12-month high of $2.15. The company has a current ratio of 2.12, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The firm’s 50-day moving average price is $1.10 and its 200-day moving average price is $0.96.

Cytosorbents (NASDAQ:CTSO) last posted its quarterly earnings data on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $9.89 million during the quarter, compared to analyst estimates 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 period last year, the company earned ($0.14) EPS. On average, equities research analysts anticipate that Cytosorbents will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytosorbents

Hedge funds have recently bought and sold shares of the business. CM Management LLC boosted 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 boosted its position in Cytosorbents by 12.3% in the 4th quarter. Avenir Corp now owns 3,051,402 shares of the medical research company’s stock valued at $3,387,000 after buying an additional 334,005 shares during the period. Neuberger Berman Group LLC boosted its position in Cytosorbents by 19.9% in the 4th quarter. Neuberger Berman Group LLC now owns 1,801,799 shares of the medical research company’s stock valued at $1,997,000 after buying an additional 299,103 shares during the period. Sargent Investment Group LLC grew its stake in 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 worth $1,008,000 after acquiring an additional 67,181 shares in the last quarter. Finally, Key Client Fiduciary Advisors LLC increased its position in shares of Cytosorbents by 188.0% during the first quarter. Key Client Fiduciary Advisors LLC now owns 34,557 shares of the medical research company’s stock worth $33,000 after acquiring an additional 22,557 shares during the period. Institutional investors 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.