Cytosorbents (NASDAQ:CTSO) Shares Cross Above 200-Day Moving Average – Here’s Why

Cytosorbents Co. (NASDAQ:CTSO)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.04 and traded as high as $1.31. Cytosorbents shares last traded at $1.31, with a volume of 179,236 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTSO shares. HC Wainwright reissued a “neutral” rating and issued a $1.00 price objective on shares of Cytosorbents in a research report on Monday, November 11th. D. Boral Capital restated a “buy” rating and issued a $10.00 target price on shares of Cytosorbents in a research note on Monday, January 13th. Finally, StockNews.com assumed coverage on shares of Cytosorbents in a research note on Friday. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cytosorbents has a consensus rating of “Moderate Buy” and an average price target of $4.67.

Cytosorbents Trading Down 0.8 %

The stock has a market cap of $71.08 million, a price-to-earnings ratio of -3.61 and a beta of 0.61. The firm’s 50 day moving average is $0.98 and its two-hundred day moving average is $1.04. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 1.06.

Institutional Investors Weigh In On Cytosorbents

Several institutional investors and hedge funds have recently bought and sold shares of CTSO. Renaissance Technologies LLC raised its stake in Cytosorbents by 10.6% during the fourth quarter. Renaissance Technologies LLC now owns 88,020 shares of the medical research company’s stock worth $80,000 after acquiring an additional 8,400 shares during the period. Northern Trust Corp raised its stake in Cytosorbents by 22.3% during the fourth quarter. Northern Trust Corp now owns 91,560 shares of the medical research company’s stock worth $83,000 after acquiring an additional 16,701 shares during the period. Raymond James Financial Inc. acquired a new stake in Cytosorbents during the fourth quarter worth about $99,000. Geode Capital Management LLC raised its stake in Cytosorbents by 7.5% during the third 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 during the period. Finally, Sargent Investment Group LLC raised its stake in 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 period. Institutional investors and hedge funds own 32.87% of the company’s stock.

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.