Granahan Investment Management LLC Has $358,000 Stake in Cytosorbents Corporation $CTSO

Key Points

• Granahan Investment Management LLC significantly reduced its stake in Cytosorbents Corporation by 70.2%, now holding just 358,418 shares.
• Despite the drop in Granahan's holdings, other investors like Northern Trust Corp and Key Client Fiduciary Advisors increased their stakes in the company during the same period.
• Cytosorbents reported a quarterly loss of ($0.05) EPS, surpassing analysts' expectations of ($0.07) per share, with revenue slightly below forecasts at $9.62 million.

Granahan Investment Management LLC lowered its stake in Cytosorbents Corporation (NASDAQ:CTSO - Free Report) by 70.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 358,418 shares of the medical research company's stock after selling 846,162 shares during the quarter. Granahan Investment Management LLC owned approximately 0.57% of Cytosorbents worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC acquired a new stake in shares of Cytosorbents in the fourth quarter valued at about $30,000. Key Client Fiduciary Advisors LLC raised its holdings in shares of Cytosorbents by 127.0% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 78,457 shares of the medical research company's stock valued at $78,000 after purchasing an additional 43,900 shares during the period. Northern Trust Corp raised its holdings in shares of Cytosorbents by 22.3% in the 4th quarter. Northern Trust Corp now owns 91,560 shares of the medical research company's stock valued at $83,000 after purchasing an additional 16,701 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Cytosorbents in the 4th quarter valued at about $99,000. Finally, CM Management LLC raised its holdings in shares of Cytosorbents by 36.3% in the 1st quarter. CM Management LLC now owns 954,076 shares of the medical research company's stock valued at $954,000 after purchasing an additional 254,076 shares during the period. Institutional investors and hedge funds own 32.87% of the company's stock.

Cytosorbents Stock Performance

Shares of CTSO stock traded down $0.06 during midday trading on Wednesday, hitting $0.94. 77,253 shares of the company were exchanged, compared to its average volume of 184,298. Cytosorbents Corporation has a 52 week low of $0.71 and a 52 week high of $1.61. The firm has a market capitalization of $58.68 million, a P/E ratio of -5.50 and a beta of 1.28. The firm's 50 day moving average price is $0.99 and its two-hundred day moving average price is $1.01. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.96 and a current ratio of 2.34.

Cytosorbents (NASDAQ:CTSO - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical research company reported ($0.05) EPS 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 business had revenue of $9.62 million for the quarter, compared to analyst estimates of $9.79 million. As a group, equities research analysts anticipate that Cytosorbents Corporation will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTSO. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 target price on shares of Cytosorbents in a report on Wednesday, August 20th. HC Wainwright reaffirmed a "neutral" rating and issued a $1.00 target price on shares of Cytosorbents in a report on Thursday, May 15th. Finally, Wall Street Zen began coverage on shares of Cytosorbents in a report on Wednesday, May 21st. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Cytosorbents has a consensus rating of "Moderate Buy" and a consensus 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.