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

Stock analysts at StockNews.com assumed coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the medical research company’s stock.

Several other analysts have also commented on CTSO. HC Wainwright reiterated a “neutral” rating and set a $1.00 price objective on shares of Cytosorbents in a report on Monday, November 11th. EF Hutton Acquisition Co. I upgraded shares of Cytosorbents to a “strong-buy” rating in a research note on Monday, July 29th.

Cytosorbents Stock Up 1.2 %

Shares of Cytosorbents stock opened at $0.91 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 1.06. The company has a market cap of $49.77 million, a P/E ratio of -2.61 and a beta of 0.56. The firm’s 50 day moving average price is $1.10 and its 200-day moving average price is $1.01. Cytosorbents has a 52-week low of $0.70 and a 52-week high of $2.15.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CTSO. Sargent Investment Group LLC raised its position in shares of Cytosorbents by 13.4% in the third quarter. Sargent Investment Group LLC now owns 1,626,247 shares of the medical research company’s stock worth $2,439,000 after acquiring an additional 192,747 shares during the period. CM Management LLC raised its holdings in Cytosorbents by 3.0% in the 2nd quarter. CM Management LLC now owns 850,000 shares of the medical research company’s stock worth $598,000 after purchasing an additional 25,000 shares during the period. Geode Capital Management LLC boosted its position in Cytosorbents by 7.5% during the third quarter. Geode Capital Management LLC now owns 467,058 shares of the medical research company’s stock worth $701,000 after purchasing an additional 32,415 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in Cytosorbents in the third quarter valued at approximately $51,000. 32.87% of the stock is owned by institutional investors and hedge funds.

About Cytosorbents

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.