Cytosorbents (NASDAQ:CTSO) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Cytosorbents Corporation (NASDAQ:CTSO) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.60 and traded as low as $0.38. Cytosorbents shares last traded at $0.4068, with a volume of 46,060 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on the stock. D. Boral Capital reissued a “buy” rating and issued a $10.00 target price on shares of Cytosorbents in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cytosorbents in a research note on Wednesday, April 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cytosorbents has an average rating of “Hold” and a consensus price target of $5.38.

Cytosorbents Stock Performance

The company has a market cap of $25.56 million, a price-to-earnings ratio of -2.14 and a beta of 1.39. The company has a debt-to-equity ratio of 4.70, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a fifty day simple moving average of $0.48 and a 200 day simple moving average of $0.60.

Cytosorbents (NASDAQ:CTSO) last issued its quarterly earnings data on Wednesday, May 13th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Cytosorbents had a negative return on equity of 235.57% and a negative net margin of 31.85%.The firm had revenue of $8.86 million during the quarter, compared to analyst estimates of $9.40 million. On average, sell-side analysts expect that Cytosorbents Corporation will post -0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Phillip P. Chan purchased 251,136 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was bought at an average cost of $0.40 per share, for a total transaction of $100,454.40. Following the completion of the acquisition, the chief executive officer directly owned 1,734,099 shares of the company’s stock, valued at approximately $693,639.60. The trade was a 16.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Cytosorbents

Several hedge funds have recently added to or reduced their stakes in CTSO. Goldman Sachs Group Inc. grew its holdings in Cytosorbents by 149.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 62,662 shares of the medical research company’s stock valued at $63,000 after buying an additional 37,519 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Cytosorbents by 127.3% during the third quarter. Citadel Advisors LLC now owns 65,690 shares of the medical research company’s stock worth $61,000 after buying an additional 36,790 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Cytosorbents during the third quarter worth approximately $161,000. CM Management LLC boosted its position in shares of Cytosorbents by 14.6% in the fourth quarter. CM Management LLC now owns 1,476,500 shares of the medical research company’s stock valued at $944,000 after acquiring an additional 188,372 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Cytosorbents by 3.7% in the third quarter. Vanguard Group Inc. now owns 2,204,294 shares of the medical research company’s stock valued at $2,059,000 after acquiring an additional 79,535 shares during the period. Institutional investors own 32.87% of the company’s stock.

Cytosorbents Company Profile

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.