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

Cytosorbents Co. (NASDAQ:CTSO) shares crossed 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 traded.

Analyst Ratings Changes

CTSO has been the subject of several recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 target price on shares of Cytosorbents in a research note on Monday, January 13th. HC Wainwright reaffirmed a “neutral” rating and issued a $1.00 target price on shares of Cytosorbents in a research note on Monday, November 11th. Finally, StockNews.com initiated coverage on shares of Cytosorbents in a research note on Friday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cytosorbents has an average rating of “Moderate Buy” and a consensus price target of $4.67.

Cytosorbents Price Performance

The stock has a market capitalization of $71.08 million, a PE ratio of -3.61 and a beta of 0.61. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 1.06. The company’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.04.

Institutional Trading of Cytosorbents

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Cytosorbents by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 467,058 shares of the medical research company’s stock valued at $701,000 after buying an additional 32,415 shares during the period. Sargent Investment Group LLC grew its stake in shares of Cytosorbents by 13.4% during the 3rd quarter. Sargent Investment Group LLC now owns 1,626,247 shares of the medical research company’s stock valued at $2,439,000 after buying an additional 192,747 shares during the period. Northern Trust Corp grew its stake in shares of Cytosorbents by 22.3% during the 4th quarter. Northern Trust Corp now owns 91,560 shares of the medical research company’s stock valued at $83,000 after buying an additional 16,701 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Cytosorbents during the 4th quarter valued at $99,000. Finally, Renaissance Technologies LLC grew its stake in shares of Cytosorbents by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 88,020 shares of the medical research company’s stock valued at $80,000 after buying an additional 8,400 shares during the period. 32.87% of the stock is owned by hedge funds and other institutional investors.

Cytosorbents Company Profile

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.