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

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

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

Cytosorbents Price Performance

Shares of CTSO stock opened at $0.92 on Friday. The stock’s 50-day moving average is $0.95 and its 200 day moving average is $1.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.97 and a quick ratio of 1.58. Cytosorbents has a 1-year low of $0.70 and a 1-year high of $1.92. The company has a market cap of $50.03 million, a P/E ratio of -2.54 and a beta of 0.57.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTSO. Geode Capital Management LLC grew its holdings in Cytosorbents by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 467,058 shares of the medical research company’s stock worth $701,000 after acquiring an additional 32,415 shares in the last quarter. Sargent Investment Group LLC grew its position in shares of Cytosorbents by 13.4% during 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 last quarter. Atomi Financial Group Inc. purchased a new position in Cytosorbents during the 3rd quarter worth $51,000. Finally, CM Management LLC raised its stake in Cytosorbents by 3.0% during the 2nd 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 during the last quarter. 32.87% of the stock is currently owned by hedge funds and other institutional investors.

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.