Sargent Investment Group LLC Raises Position in Cytosorbents Co. (NASDAQ:CTSO)

Sargent Investment Group LLC increased its position in Cytosorbents Co. (NASDAQ:CTSO) by 13.4% in the third quarter, HoldingsChannel.com reports. The fund owned 1,626,247 shares of the medical research company’s stock after buying an additional 192,747 shares during the period. Sargent Investment Group LLC’s holdings in Cytosorbents were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTSO. CM Management LLC boosted its holdings in Cytosorbents by 3.0% in the 2nd quarter. CM Management LLC now owns 850,000 shares of the medical research company’s stock worth $598,000 after buying an additional 25,000 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Cytosorbents in the 3rd quarter valued at approximately $51,000. Finally, Avenir Corp grew its stake in shares of Cytosorbents by 4.0% in the first quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock worth $3,014,000 after acquiring an additional 121,294 shares in the last quarter. 32.87% of the stock is owned by institutional investors and hedge funds.

Cytosorbents Stock Up 6.9 %

CTSO traded up $0.06 on Thursday, reaching $0.99. 12,786 shares of the company traded hands, compared to its average volume of 124,879. The stock’s 50 day moving average price is $1.13 and its 200-day moving average price is $1.01. Cytosorbents Co. has a 52-week low of $0.70 and a 52-week high of $2.15. The company has a market cap of $54.11 million, a price-to-earnings ratio of -2.57 and a beta of 0.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.97 and a quick ratio of 1.71.

Cytosorbents (NASDAQ:CTSO) last released its earnings results on Tuesday, August 13th. The medical research company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $9.89 million during the quarter, compared to analysts’ expectations of $9.73 million. Cytosorbents had a negative net margin of 49.47% and a negative return on equity of 118.54%. During the same period in the prior year, the company earned ($0.14) EPS. On average, sell-side analysts expect that Cytosorbents Co. will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CTSO shares. EF Hutton Acquisition Co. I raised shares of Cytosorbents to a “strong-buy” rating in a report on Monday, July 29th. StockNews.com assumed coverage on shares of Cytosorbents in a research note on Sunday. They set a “hold” rating on the stock. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $1.00 price target on shares of Cytosorbents in a research note on Monday.

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.