Cytosorbents (NASDAQ:CTSO) Stock Scheduled to Reverse Split on Tuesday, September 8th

Cytosorbents Corporation (NASDAQ:CTSO)’s stock is scheduled to reverse split before the market opens on Tuesday, September 8th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 7th.

Cytosorbents Trading Down 8.8%

Shares of NASDAQ:CTSO opened at $0.35 on Friday. The stock has a 50 day moving average of $0.37 and a 200 day moving average of $0.51. The company has a market cap of $21.99 million, a PE ratio of -1.21 and a beta of 1.34. Cytosorbents has a 12-month low of $0.30 and a 12-month high of $1.04. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 4.70.

Cytosorbents (NASDAQ:CTSO) last released its earnings results on Thursday, August 6th. The medical research company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Cytosorbents had a negative return on equity of 431.65% and a negative net margin of 48.94%.The firm had revenue of $9.63 million during the quarter, compared to analysts’ expectations of $9.38 million. As a group, equities research analysts expect that Cytosorbents will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cytosorbents in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.38.

Insider Buying and Selling at Cytosorbents

In other Cytosorbents news, CEO Phillip Chan bought 251,136 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $0.40 per share, for a total transaction of $100,454.40. Following the completion of the transaction, the chief executive officer owned 1,734,099 shares of the company’s stock, valued at $693,639.60. This trade represents a 16.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTSO. Citadel Advisors LLC grew its holdings in Cytosorbents by 127.3% during 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 in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Cytosorbents by 149.2% in the first quarter. Goldman Sachs Group Inc. now owns 62,662 shares of the medical research company’s stock worth $63,000 after buying an additional 37,519 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Cytosorbents in the third quarter worth $161,000. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 79,535 shares during the last quarter. Finally, Avenir Corp boosted its position in shares of 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 acquiring an additional 147,261 shares during the last quarter. 32.87% of the stock is currently owned by institutional investors.

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.