Phillip Chan Buys 200,000 Shares of Cytosorbents (NASDAQ:CTSO) Stock

Cytosorbents Corporation (NASDAQ:CTSO) CEO Phillip Chan purchased 200,000 shares of Cytosorbents stock in a transaction that occurred on Friday, September 4th. The shares were bought at an average price of $0.35 per share, with a total value of $70,000.00. Following the completion of the transaction, the chief executive officer owned 1,944,432 shares of the company’s stock, valued at $680,551.20. This represents a 11.47% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cytosorbents Trading Up 0.6%

Cytosorbents stock opened at $6.37 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 4.70. Cytosorbents Corporation has a 12 month low of $6.00 and a 12 month high of $20.40. The stock’s 50 day simple moving average is $7.32 and its two-hundred day simple moving average is $9.99. The firm has a market cap of $20.07 million, a PE ratio of -1.10 and a beta of 1.34.

Cytosorbents (NASDAQ:CTSO) last issued its quarterly earnings data on Thursday, August 6th. The medical research company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.73. Cytosorbents had a negative net margin of 48.94% and a negative return on equity of 431.65%. The business had revenue of $9.63 million for the quarter, compared to analysts’ expectations of $9.38 million. Analysts anticipate that Cytosorbents Corporation will post -4.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cytosorbents in a report on Monday, July 6th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $107.50.

Hedge Funds Weigh In On Cytosorbents

Large investors have recently added to or reduced their stakes in the stock. Avenir Corp lifted its holdings in Cytosorbents by 2.9% during the fourth quarter. Avenir Corp now owns 5,230,099 shares of the medical research company’s stock valued at $3,343,000 after purchasing an additional 147,261 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cytosorbents by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,204,294 shares of the medical research company’s stock worth $2,059,000 after purchasing an additional 79,535 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Cytosorbents during the third quarter worth about $161,000. Citadel Advisors LLC raised its position in shares of Cytosorbents by 127.3% during the 3rd quarter. Citadel Advisors LLC now owns 65,690 shares of the medical research company’s stock worth $61,000 after purchasing an additional 36,790 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of 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 purchasing an additional 37,519 shares during the last quarter. 32.87% of the stock is currently owned by institutional investors and hedge funds.

About Cytosorbents

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.