Cytosorbents (NASDAQ:CTSO) posted its quarterly earnings data on Tuesday. The medical research company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.04, Morningstar.com reports. Cytosorbents had a negative net margin of 74.60% and a negative return on equity of 100.51%. The business had revenue of $5.74 million during the quarter, compared to the consensus estimate of $5.79 million.
Shares of Cytosorbents stock traded up $1.69 during trading on Wednesday, hitting $11.34. 661,706 shares of the company’s stock were exchanged, compared to its average volume of 212,557. The company has a debt-to-equity ratio of 0.46, a current ratio of 8.82 and a quick ratio of 8.60. Cytosorbents has a 52-week low of $5.80 and a 52-week high of $14.95. The stock has a market cap of $305.16 million, a PE ratio of -35.44 and a beta of 0.62.
Several equities research analysts have recently commented on the stock. Maxim Group reiterated a “buy” rating and set a $18.00 price objective on shares of Cytosorbents in a research note on Tuesday, September 4th. BidaskClub raised shares of Cytosorbents from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 1st. Cowen reissued a “buy” rating and set a $15.00 target price on shares of Cytosorbents in a report on Friday, August 3rd. Finally, HC Wainwright set a $15.00 target price on shares of Cytosorbents and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.81.
In other Cytosorbents news, COO Vincent Capponi sold 9,565 shares of Cytosorbents stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $13.00, for a total value of $124,345.00. Following the completion of the transaction, the chief operating officer now owns 342,333 shares of the company’s stock, valued at $4,450,329. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Al Kraus sold 26,000 shares of Cytosorbents stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $14.47, for a total transaction of $376,220.00. Following the completion of the transaction, the director now directly owns 133,046 shares of the company’s stock, valued at approximately $1,925,175.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,501 shares of company stock valued at $927,310. 6.90% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTSO. BlackRock Inc. increased its holdings in Cytosorbents by 1,156.8% in the second quarter. BlackRock Inc. now owns 1,706,847 shares of the medical research company’s stock valued at $19,459,000 after buying an additional 1,571,041 shares in the last quarter. Northern Trust Corp increased its holdings in Cytosorbents by 542.8% in the second quarter. Northern Trust Corp now owns 309,268 shares of the medical research company’s stock valued at $3,526,000 after buying an additional 261,154 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Cytosorbents in the second quarter valued at $2,625,000. Millennium Management LLC grew its position in shares of Cytosorbents by 134.4% in the first quarter. Millennium Management LLC now owns 384,330 shares of the medical research company’s stock valued at $2,710,000 after purchasing an additional 220,353 shares during the period. Finally, Bradley Foster & Sargent Inc. CT acquired a new stake in shares of Cytosorbents in the second quarter valued at about $1,591,000. 24.79% of the stock is owned by institutional investors.
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Cytosorbents Corporation, a critical care focused immunotherapy company, engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology worldwide. The company's flagship product is CytoSorb device, an extracorporeal cytokine filter designed for the adjunctive therapy in the treatment of sepsis; adjunctive therapy in other critical care applications; prevention and treatment of post-operative complications of cardiopulmonary bypass surgery; and prevention and treatment of organ dysfunction in brain-dead organ donors to increase the number and quality of viable organs harvested from donors.
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