Cytosorbents (NASDAQ:CTSO) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Cytosorbents Corporation (NASDAQ:CTSO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.77 and traded as high as $0.7989. Cytosorbents shares last traded at $0.7250, with a volume of 39,671 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CTSO shares. HC Wainwright lowered their target price on Cytosorbents from $1.00 to $0.75 and set a “neutral” rating on the stock in a research report on Friday, November 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cytosorbents in a research report on Friday, January 9th. Finally, D. Boral Capital restated a “buy” rating and set a $10.00 price target on shares of Cytosorbents in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cytosorbents currently has an average rating of “Hold” and a consensus target price of $5.38.

Cytosorbents Price Performance

The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.71 and a current ratio of 2.11. The business has a 50 day simple moving average of $0.69 and a 200-day simple moving average of $0.77. The firm has a market cap of $44.44 million, a price-to-earnings ratio of -3.93 and a beta of 1.36.

Hedge Funds Weigh In On Cytosorbents

Several large investors have recently bought and sold shares of CTSO. Avenir Corp boosted its holdings in Cytosorbents by 0.3% during the 2nd quarter. Avenir Corp now owns 5,058,537 shares of the medical research company’s stock worth $6,475,000 after acquiring an additional 13,619 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Cytosorbents by 127.3% in the third quarter. Citadel Advisors LLC now owns 65,690 shares of the medical research company’s stock valued at $61,000 after purchasing an additional 36,790 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Cytosorbents by 149.2% in the first quarter. Goldman Sachs Group Inc. now owns 62,662 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 37,519 shares during the last quarter. CM Management LLC lifted its position in shares of Cytosorbents by 3.1% during the third quarter. CM Management LLC now owns 1,288,128 shares of the medical research company’s stock valued at $1,203,000 after purchasing an additional 38,128 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Cytosorbents by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,204,294 shares of the medical research company’s stock worth $2,059,000 after purchasing an additional 79,535 shares during the last quarter. 32.87% of the stock is currently owned by institutional investors.

Cytosorbents Company Profile

Cytosorbents Corporation, founded in 2011 and headquartered in Princeton, New Jersey, is a medical device company focused on critical care and extracorporeal blood purification. The company’s flagship product, CytoSorb, is a hemoadsorption cartridge designed to remove excessive inflammatory mediators such as cytokines, bilirubin and myoglobin from a patient’s blood. By targeting the molecular drivers of hyperinflammation, CytoSorb is intended to stabilize patients undergoing septic shock, cardiac surgery, trauma and organ failure.

CytoSorb has secured regulatory clearance in Europe (CE mark) and is available in more than 65 countries, with a growing presence in Asia, the Middle East and Latin America.