Key Points
- CEO Phillip Chan bought 251,136 Cytosorbents shares at $0.40 each, a transaction worth about $100,454 that increased his ownership by 16.93%.
- The stock rose 8.1% and opened at $0.43, but Cytosorbents remains a small-cap name with a market value of about $27.13 million and a 12-month range of $0.37 to $1.39.
- Recent results were weak: the company reported a quarterly loss of $0.08 per share versus the expected $0.06 loss and revenue of $8.86 million, while analysts currently rate the stock Hold on average.
Cytosorbents Corporation (NASDAQ:CTSO - Get Free Report) CEO Phillip Chan bought 251,136 shares of the firm's stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $0.40 per share, for a total transaction of $100,454.40. Following the transaction, the chief executive officer owned 1,734,099 shares of the company's stock, valued at approximately $693,639.60. The trade was a 16.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Cytosorbents Stock Up 8.1%
Shares of NASDAQ CTSO opened at $0.43 on Tuesday. The company has a market cap of $27.13 million, a price-to-earnings ratio of -2.27 and a beta of 1.35. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 4.70. Cytosorbents Corporation has a 12 month low of $0.37 and a 12 month high of $1.39. The stock has a 50-day moving average price of $0.54 and a two-hundred day moving average price of $0.63.
Cytosorbents (NASDAQ:CTSO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The medical research company reported ($0.08) earnings per share 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 analyst estimates of $9.40 million. Cytosorbents had a negative net margin of 31.85% and a negative return on equity of 235.57%. As a group, analysts forecast that Cytosorbents Corporation will post -0.19 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have weighed in on CTSO shares. D. Boral Capital reaffirmed a "buy" rating and set a $10.00 target price 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 report on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.38.
Get Our Latest Report on CTSO
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC raised its holdings in Cytosorbents by 127.3% in the 3rd 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 last quarter. Goldman Sachs Group Inc. grew its holdings in Cytosorbents by 149.2% during the 1st 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 last quarter. GSA Capital Partners LLP acquired a new position in Cytosorbents in the 3rd quarter valued at approximately $105,000. CIBC Bancorp USA Inc. acquired a new position in Cytosorbents in the 3rd quarter valued at approximately $161,000. Finally, CM Management LLC raised its stake in shares of Cytosorbents by 14.6% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 32.87% of the company's stock.
Cytosorbents Company Profile
(
Get Free Report)
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.
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