Posted by admin on Aug 19th, 2022
Cytosorbents Co. (NASDAQ:CTSO – Get Rating) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 712,500 shares, a drop of 6.6% from the July 15th total of 762,500 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average trading volume of 259,600 shares, the short-interest ratio is currently 2.7 days.
Separately, B. Riley cut their target price on shares of Cytosorbents from $7.00 to $6.00 in a report on Wednesday, May 4th.
CTSO opened at $2.03 on Friday. The business’s 50 day moving average is $2.11 and its 200-day moving average is $2.64. The stock has a market cap of $88.46 million, a PE ratio of -2.48 and a beta of 0.37. Cytosorbents has a twelve month low of $1.69 and a twelve month high of $9.80.
Hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP grew its position in Cytosorbents by 39.0% in the first quarter. Royce & Associates LP now owns 349,000 shares of the medical research company’s stock worth $1,113,000 after buying an additional 98,000 shares during the last quarter. Sargent Investment Group LLC grew its position in Cytosorbents by 5.4% in the first quarter. Sargent Investment Group LLC now owns 827,380 shares of the medical research company’s stock worth $2,639,000 after buying an additional 42,544 shares during the last quarter. Skylands Capital LLC grew its position in Cytosorbents by 5.9% in the fourth quarter. Skylands Capital LLC now owns 1,946,374 shares of the medical research company’s stock worth $8,155,000 after buying an additional 108,833 shares during the last quarter. Cowen Prime Advisors LLC grew its position in Cytosorbents by 316.0% during the 1st quarter. Cowen Prime Advisors LLC now owns 15,600 shares of the medical research company’s stock worth $50,000 after purchasing an additional 11,850 shares in the last quarter. Finally, Avenir Corp grew its position in Cytosorbents by 28.1% during the 4th quarter. Avenir Corp now owns 1,787,275 shares of the medical research company’s stock worth $7,489,000 after purchasing an additional 391,890 shares in the last quarter. Institutional investors and hedge funds own 40.98% of the company’s stock.
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. Its flagship product is CytoSorb, an extracorporeal cytokine filter for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention and treatment of perioperative complications of cardiopulmonary bypass surgery, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant.
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