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

Cytosorbents Corporation (NASDAQ:CTSOGet Free Report) CEO Phillip Chan bought 200,000 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average price of $0.35 per share, with a total value of $70,000.00. Following the transaction, the chief executive officer directly owned 1,944,432 shares in the company, valued at $680,551.20. The trade was a 11.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cytosorbents Stock Up 0.6%

Shares of CTSO opened at $6.41 on Friday. Cytosorbents Corporation has a 1 year low of $6.00 and a 1 year high of $20.40. The company has a debt-to-equity ratio of 4.70, a current ratio of 0.66 and a quick ratio of 0.50. The stock has a 50 day simple moving average of $7.29 and a two-hundred day simple moving average of $9.97. The firm has a market cap of $20.19 million, a P/E ratio of -1.11 and a beta of 1.34.

Cytosorbents (NASDAQ:CTSOGet Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical research company reported ($0.07) EPS 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 for the quarter, compared to the consensus estimate of $9.38 million. On average, analysts forecast that Cytosorbents Corporation will post -4.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cytosorbents

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in Cytosorbents by 149.2% in the first 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. Vanguard Group Inc. grew 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 worth $2,059,000 after purchasing an additional 79,535 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Cytosorbents by 127.3% in the third quarter. Citadel Advisors LLC now owns 65,690 shares of the medical research company’s stock worth $61,000 after purchasing an additional 36,790 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Cytosorbents in the third quarter worth $161,000. Finally, Avenir Corp increased its stake 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 worth $3,343,000 after buying an additional 147,261 shares during the period. 32.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on Cytosorbents

About Cytosorbents

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Cytosorbents Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytosorbents and related companies with MarketBeat.com's FREE daily email newsletter.