Cytosorbents (NASDAQ:CTSO) Stock Price Crosses Above 200-Day Moving Average of $1.74

Shares of Cytosorbents Co. (NASDAQ:CTSO – Get Rating) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.74 and traded as high as $2.21. Cytosorbents shares last traded at $2.17, with a volume of 84,291 shares traded.

Analysts Set New Price Targets

Several research firms have issued reports on CTSO. HC Wainwright cut their target price on Cytosorbents from $9.00 to $5.50 and set a “buy” rating for the company in a research note on Friday, November 4th. StockNews.com raised Cytosorbents from a “sell” rating to a “hold” rating in a research note on Thursday, January 5th.

Cytosorbents Price Performance

The firm has a 50 day simple moving average of $1.46 and a 200-day simple moving average of $1.74. The company has a market cap of $94.69 million, a price-to-earnings ratio of -2.28 and a beta of 0.55.

Cytosorbents (NASDAQ:CTSO – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The medical research company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.12). Cytosorbents had a negative return on equity of 80.80% and a negative net margin of 114.61%. The firm had revenue of $8.11 million for the quarter, compared to analysts’ expectations of $8.99 million. Research analysts anticipate that Cytosorbents Co. will post -0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Occudo Quantitative Strategies LP boosted its position in shares of Cytosorbents by 33.3% during the second quarter. Occudo Quantitative Strategies LP now owns 24,367 shares of the medical research company’s stock worth $53,000 after buying an additional 6,092 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cytosorbents by 36.0% during the second quarter. JPMorgan Chase & Co. now owns 26,813 shares of the medical research company’s stock worth $59,000 after buying an additional 7,102 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Cytosorbents by 21.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,684 shares of the medical research company’s stock valued at $184,000 after purchasing an additional 10,141 shares during the period. Key Client Fiduciary Advisors LLC purchased a new position in Cytosorbents in the second quarter valued at $26,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Cytosorbents in the first quarter valued at $28,000. 34.04% of the stock is currently owned by hedge funds and other institutional investors.

Cytosorbents Company Profile

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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. Its flagship product is CytoSorb, an extracorporeal cytokine filter for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention and treatment of perioperative complications of cardiopulmonary bypass surgery, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant.