Cytosorbents (NASDAQ:CTSO) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Cytosorbents Corporation (NASDAQ:CTSO)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.60 and traded as low as $0.38. Cytosorbents shares last traded at $0.4068, with a volume of 46,060 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CTSO shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cytosorbents in a report on Wednesday, April 8th. D. Boral Capital reiterated a “buy” rating and issued a $10.00 target price on shares of Cytosorbents in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cytosorbents currently has an average rating of “Hold” and a consensus target price of $5.38.

Cytosorbents Price Performance

The stock has a market cap of $25.56 million, a price-to-earnings ratio of -2.14 and a beta of 1.39. The company has a debt-to-equity ratio of 4.70, a current ratio of 1.09 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $0.48 and its two-hundred day simple moving average is $0.60.

Cytosorbents (NASDAQ:CTSO) last announced its quarterly earnings results 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). The business had revenue of $8.86 million for the quarter, compared to the consensus estimate of $9.40 million. Cytosorbents had a negative return on equity of 235.57% and a negative net margin of 31.85%. On average, analysts forecast that Cytosorbents Corporation will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at Cytosorbents

In other news, CEO Phillip P. Chan purchased 251,136 shares of Cytosorbents stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $0.40 per share, for a total transaction of $100,454.40. Following the completion of the transaction, the chief executive officer directly owned 1,734,099 shares in the company, valued at approximately $693,639.60. This represents a 16.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. 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 worth $61,000 after acquiring an additional 36,790 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Cytosorbents by 149.2% during 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 in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Cytosorbents during the 3rd quarter valued at $161,000. CM Management LLC raised its position in Cytosorbents by 14.6% in the 4th 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 during the last quarter. Finally, Vanguard Group Inc. raised its position in Cytosorbents by 3.7% in the 3rd 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 during the last quarter. 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.