Cytosorbents (NASDAQ:CTSO) Shares Pass Below 200 Day Moving Average – Here’s Why

Cytosorbents Corporation (NASDAQ:CTSO) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.60 and traded as low as $0.38. Cytosorbents shares last traded at $0.4068, with a volume of 46,060 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTSO. D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cytosorbents in a research note on Thursday, March 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cytosorbents in a research note on Monday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cytosorbents currently has a consensus rating of “Hold” and a consensus price target of $5.38.

Cytosorbents Stock Performance

The stock has a market cap of $23.38 million, a P/E ratio of -1.96 and a beta of 1.39. The stock has a fifty day simple moving average of $0.48 and a 200-day simple moving average of $0.60. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 4.70.

Cytosorbents (NASDAQ:CTSO) last announced its quarterly earnings results on Wednesday, May 13th. The medical research company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $8.86 million during the quarter, compared to the consensus estimate of $9.40 million. Cytosorbents had a negative net margin of 31.85% and a negative return on equity of 235.57%. Equities analysts expect that Cytosorbents Corporation will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at Cytosorbents

In other news, CEO Phillip P. Chan bought 251,136 shares of the stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $0.40 per share, with a total value of $100,454.40. Following the completion of the purchase, the chief executive officer owned 1,734,099 shares of the company’s stock, valued at approximately $693,639.60. This trade represents a 16.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC boosted 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 buying an additional 36,790 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Cytosorbents by 149.2% during the first quarter. Goldman Sachs Group Inc. now owns 62,662 shares of the medical research company’s stock worth $63,000 after acquiring an additional 37,519 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Cytosorbents during the third quarter worth $161,000. CM Management LLC lifted its position in Cytosorbents by 14.6% in the 4th quarter. CM Management LLC now owns 1,476,500 shares of the medical research company’s stock valued at $944,000 after acquiring an additional 188,372 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Cytosorbents by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,204,294 shares of the medical research company’s stock valued at $2,059,000 after acquiring an additional 79,535 shares in the last quarter. Institutional investors own 32.87% of the company’s stock.

About Cytosorbents

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.