Cytosorbents (NASDAQ:CTSO) Shares to Reverse Split on Tuesday, September 8th

Shares of Cytosorbents Corporation (NASDAQ:CTSO) are going to reverse split before the market opens on Tuesday, September 8th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, September 7th.

Cytosorbents Price Performance

Shares of Cytosorbents stock opened at $0.35 on Friday. The stock has a market cap of $21.99 million, a price-to-earnings ratio of -1.21 and a beta of 1.34. The company has a debt-to-equity ratio of 4.70, a quick ratio of 0.50 and a current ratio of 0.66. The stock has a 50 day moving average price of $0.37 and a 200-day moving average price of $0.51. Cytosorbents has a one year low of $0.30 and a one year high of $1.04.

Cytosorbents (NASDAQ:CTSO) last released its quarterly earnings results on Thursday, August 6th. The medical research company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $9.63 million for the quarter, compared to analysts’ expectations of $9.38 million. Cytosorbents had a negative net margin of 48.94% and a negative return on equity of 431.65%. Equities analysts expect that Cytosorbents will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cytosorbents in a report on Monday, July 6th. One research 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. Based on data from MarketBeat.com, Cytosorbents has a consensus rating of “Hold” and an average price target of $5.38.

Insider Activity

In related news, CEO Phillip Chan bought 251,136 shares of the company’s stock in a transaction on Friday, June 12th. The shares were acquired at an average cost of $0.40 per share, for a total transaction of $100,454.40. Following the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Cytosorbents

Hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC boosted its holdings in shares of Cytosorbents by 127.3% in the 3rd quarter. Citadel Advisors LLC now owns 65,690 shares of the medical research company’s stock valued at $61,000 after buying an additional 36,790 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Cytosorbents by 149.2% in 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 in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Cytosorbents during the 3rd quarter worth $161,000. Vanguard Group Inc. raised its stake in 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 buying an additional 79,535 shares during the last quarter. Finally, Avenir Corp boosted its holdings in Cytosorbents by 2.9% in the fourth quarter. Avenir Corp now owns 5,230,099 shares of the medical research company’s stock worth $3,343,000 after acquiring an additional 147,261 shares in the last quarter. 32.87% of the stock is currently owned by hedge funds and other institutional investors.

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.