StockNews.com Initiates Coverage on Cytosorbents (NASDAQ:CTSO)

Analysts at StockNews.com initiated coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the medical research company’s stock.

Separately, HC Wainwright reaffirmed a “neutral” rating and issued a $1.00 target price on shares of Cytosorbents in a report on Monday, November 11th.

Cytosorbents Stock Performance

Shares of NASDAQ CTSO opened at $0.95 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 1.06. Cytosorbents has a 12-month low of $0.70 and a 12-month high of $2.15. The firm has a market capitalization of $51.95 million, a price-to-earnings ratio of -2.64 and a beta of 0.57. The firm has a 50 day moving average of $1.06 and a 200 day moving average of $1.02.

Institutional Investors Weigh In On Cytosorbents

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Cytosorbents by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 467,058 shares of the medical research company’s stock valued at $701,000 after purchasing an additional 32,415 shares during the period. Sargent Investment Group LLC increased its stake in Cytosorbents by 13.4% in the 3rd quarter. Sargent Investment Group LLC now owns 1,626,247 shares of the medical research company’s stock worth $2,439,000 after buying an additional 192,747 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in Cytosorbents during the third quarter valued at about $51,000. Finally, CM Management LLC lifted its position in shares of Cytosorbents by 3.0% in the second quarter. CM Management LLC now owns 850,000 shares of the medical research company’s stock valued at $598,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors own 32.87% of the company’s stock.

Cytosorbents Company Profile

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 in the United States, Germany, and internationally. Its flagship product is CytoSorb, an extracorporeal cytokine adsorber for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention, and treatment of perioperative complications, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant; and offers VetResQ, a device for adjunctive therapy in the treatment of sepsis, pancreatitis, and other critical illnesses in animals.