Avenir Corp Has $5.05 Million Position in Cytosorbents Corporation $CTSO

Key Points

• Avenir Corp increased its stake in Cytosorbents Corporation by 63.1% in Q1, now owning approximately 5.05 million shares valued at about $5.05 million.
• Cytosorbents recently reported earnings of ($0.05) per share, exceeding estimates by $0.02, despite a negative return on equity.
• Analysts have a consensus rating of "Moderate Buy" for Cytosorbents, with an average target price of $5.50.

Avenir Corp grew its position in Cytosorbents Corporation (NASDAQ:CTSO - Free Report) by 63.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,044,918 shares of the medical research company's stock after buying an additional 1,950,972 shares during the quarter. Cytosorbents accounts for about 0.5% of Avenir Corp's portfolio, making the stock its 23rd largest holding. Avenir Corp owned about 8.06% of Cytosorbents worth $5,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CM Management LLC increased its position in Cytosorbents by 36.3% during the 1st quarter. CM Management LLC now owns 954,076 shares of the medical research company's stock worth $954,000 after purchasing an additional 254,076 shares in the last quarter. Skylands Capital LLC increased its position in Cytosorbents by 7.9% during the 1st quarter. Skylands Capital LLC now owns 3,002,702 shares of the medical research company's stock worth $3,003,000 after purchasing an additional 221,080 shares in the last quarter. Key Client Fiduciary Advisors LLC increased its position in Cytosorbents by 127.0% during the 1st quarter. Key Client Fiduciary Advisors LLC now owns 78,457 shares of the medical research company's stock worth $78,000 after purchasing an additional 43,900 shares in the last quarter. Millennium Management LLC acquired a new position in Cytosorbents during the 4th quarter worth approximately $30,000. Finally, Northern Trust Corp increased its position in Cytosorbents by 22.3% during the 4th quarter. Northern Trust Corp now owns 91,560 shares of the medical research company's stock worth $83,000 after purchasing an additional 16,701 shares in the last quarter. 32.87% of the stock is currently owned by institutional investors and hedge funds.

Cytosorbents Trading Up 2.6%

CTSO opened at $0.93 on Wednesday. Cytosorbents Corporation has a fifty-two week low of $0.71 and a fifty-two week high of $1.61. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.34 and a quick ratio of 1.96. The firm has a market capitalization of $58.37 million, a price-to-earnings ratio of -5.47 and a beta of 1.19. The company's 50 day moving average price is $1.04 and its two-hundred day moving average price is $1.03.

Cytosorbents (NASDAQ:CTSO - Get Free Report) last posted its earnings results on Thursday, August 7th. The medical research company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.02. Cytosorbents had a negative net margin of 25.58% and a negative return on equity of 111.97%. The firm had revenue of $9.62 million for the quarter, compared to analyst estimates of $9.79 million. As a group, research analysts predict that Cytosorbents Corporation will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CTSO has been the subject of a number of research analyst reports. Wall Street Zen initiated coverage on shares of Cytosorbents in a research report on Wednesday, May 21st. They set a "hold" rating for the company. D. Boral Capital reiterated a "buy" rating and set a $10.00 price objective on shares of Cytosorbents in a research report on Wednesday, August 20th. Finally, HC Wainwright reissued a "neutral" rating and set a $1.00 target price on shares of Cytosorbents in a report on Thursday, May 15th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5.50.

Cytosorbents 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.

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