Insider Buying: Cytosorbents (NASDAQ:CTSO) CEO Buys $70,000.00 in Stock

Cytosorbents Corporation (NASDAQ:CTSO) CEO Phillip Chan acquired 200,000 shares of Cytosorbents stock in a transaction 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 directly owned 1,944,432 shares of the company’s stock, valued at $680,551.20. This trade represents a 11.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cytosorbents Price Performance

Shares of NASDAQ CTSO traded down $0.52 during trading on Wednesday, hitting $6.33. The company had a trading volume of 35,998 shares, compared to its average volume of 7,777. The stock has a fifty day simple moving average of $7.38 and a two-hundred day simple moving average of $10.09. Cytosorbents Corporation has a fifty-two week low of $6.00 and a fifty-two week high of $20.40. The firm has a market capitalization of $398.92 million, a price-to-earnings ratio of -21.83 and a beta of 1.34. The company has a quick ratio of 0.50, a current ratio of 0.66 and a debt-to-equity ratio of 4.70.

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, topping the consensus estimate 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 firm had revenue of $9.63 million during the quarter, compared to the consensus estimate of $9.38 million. On average, research analysts expect that Cytosorbents Corporation will post -0.22 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Cytosorbents

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. acquired a new stake in shares of Cytosorbents in the 3rd quarter worth $161,000. Avenir Corp raised its stake in Cytosorbents by 2.9% during the fourth quarter. Avenir Corp now owns 5,230,099 shares of the medical research company’s stock worth $3,343,000 after purchasing an additional 147,261 shares during the period. Vanguard Group Inc. raised its stake in 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 during the period. Goldman Sachs Group Inc. boosted 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 purchasing an additional 37,519 shares during the last quarter. Finally, Citadel Advisors LLC grew its stake 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 during the period. Institutional investors and hedge funds own 32.87% of the company’s stock.

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.