Insider Buying: Cytosorbents (NASDAQ:CTSO) CEO Buys 251,136 Shares of Stock

Cytosorbents Corporation (NASDAQ:CTSO) CEO Phillip Chan acquired 251,136 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $0.40 per share, with a total value of $100,454.40. Following the transaction, the chief executive officer directly owned 1,734,099 shares in the company, valued at approximately $693,639.60. The trade was a 16.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cytosorbents Price Performance

Shares of NASDAQ:CTSO traded up $0.03 on Monday, reaching $0.43. 228,497 shares of the company traded hands, compared to its average volume of 102,332. Cytosorbents Corporation has a fifty-two week low of $0.37 and a fifty-two week high of $1.39. The company’s 50 day moving average is $0.55 and its 200-day moving average is $0.64. The stock has a market capitalization of $27.13 million, a PE ratio of -2.27 and a beta of 1.35. The company has a debt-to-equity ratio of 4.70, a current ratio of 1.09 and a quick ratio of 0.81.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CTSO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cytosorbents in a research report on Wednesday, April 8th. D. Boral Capital reiterated a “buy” rating and set a $10.00 price objective on shares of Cytosorbents in a research report on Thursday, March 26th. One research 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. According to MarketBeat.com, Cytosorbents presently has an average rating of “Hold” and an average target price of $5.38.

Institutional Trading of Cytosorbents

A number of hedge funds have recently modified their holdings of CTSO. CM Management LLC lifted its holdings 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 purchasing an additional 188,372 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Cytosorbents in the third quarter valued at $161,000. Avenir Corp lifted its holdings in shares of Cytosorbents by 2.9% in 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. GSA Capital Partners LLP purchased a new stake in shares of Cytosorbents in the third quarter valued at $105,000. Finally, Vanguard Group Inc. lifted its holdings 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 purchasing an additional 79,535 shares in the last quarter. Hedge funds and other 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.