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

Cytosorbents Corporation (NASDAQ:CTSO) shares are scheduled to reverse split on the morning of 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 Stock Down 8.8%

CTSO stock opened at $0.35 on Friday. The company has a market cap of $21.99 million, a PE ratio of -1.21 and a beta of 1.34. The business has a 50-day simple moving average of $0.37 and a 200 day simple moving average of $0.51. Cytosorbents has a 52 week low of $0.30 and a 52 week high of $1.04. The company has a quick ratio of 0.50, a current ratio of 0.66 and a debt-to-equity ratio of 4.70.

Cytosorbents (NASDAQ:CTSO) last posted its quarterly earnings data on Thursday, August 6th. The medical research company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $9.63 million for the quarter, compared to the consensus estimate of $9.38 million. Cytosorbents had a negative return on equity of 431.65% and a negative net margin of 48.94%. Sell-side analysts anticipate that Cytosorbents will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Cytosorbents

In other Cytosorbents news, CEO Phillip Chan purchased 251,136 shares of the stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $0.40 per share, with a total value of $100,454.40. Following the acquisition, the chief executive officer owned 1,734,099 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTSO. 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 acquiring an additional 37,519 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Citadel Advisors LLC grew its holdings in shares of 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 purchasing an additional 36,790 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Cytosorbents during the 3rd quarter valued at approximately $161,000. Finally, Avenir Corp increased its position in Cytosorbents by 2.9% during the 4th quarter. Avenir Corp now owns 5,230,099 shares of the medical research company’s stock worth $3,343,000 after purchasing an additional 147,261 shares in the last quarter. Institutional investors own 32.87% of the company’s stock.

About Cytosorbents

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.