Granahan Investment Management LLC Reduces Stock Holdings in Cytosorbents Co. (NASDAQ:CTSO)

Granahan Investment Management LLC lessened its holdings in shares of Cytosorbents Co. (NASDAQ:CTSO - Free Report) by 42.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,204,580 shares of the medical research company's stock after selling 890,302 shares during the quarter. Granahan Investment Management LLC owned approximately 2.20% of Cytosorbents worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CTSO. Avenir Corp raised its holdings in Cytosorbents by 4.0% in the fourth quarter. Avenir Corp now owns 3,093,946 shares of the medical research company's stock worth $2,815,000 after purchasing an additional 118,387 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Cytosorbents during the fourth quarter valued at $99,000. Geode Capital Management LLC increased its holdings in shares of Cytosorbents by 7.5% during the third quarter. Geode Capital Management LLC now owns 467,058 shares of the medical research company's stock valued at $701,000 after acquiring an additional 32,415 shares in the last quarter. Skylands Capital LLC increased its holdings in shares of Cytosorbents by 1.0% during the fourth quarter. Skylands Capital LLC now owns 2,781,622 shares of the medical research company's stock valued at $2,531,000 after acquiring an additional 26,195 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Cytosorbents by 22.3% during the fourth quarter. Northern Trust Corp now owns 91,560 shares of the medical research company's stock valued at $83,000 after acquiring an additional 16,701 shares in the last quarter. Institutional investors own 32.87% of the company's stock.

Cytosorbents Price Performance

CTSO traded down $0.06 on Wednesday, hitting $0.81. 168,127 shares of the company's stock traded hands, compared to its average volume of 147,082. The company's 50 day simple moving average is $1.01 and its 200-day simple moving average is $0.99. The firm has a market cap of $50.60 million, a price-to-earnings ratio of -2.24 and a beta of 1.17. Cytosorbents Co. has a one year low of $0.70 and a one year high of $1.61. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 1.06.

Cytosorbents (NASDAQ:CTSO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Cytosorbents had a negative return on equity of 118.54% and a negative net margin of 49.47%. As a group, research analysts anticipate that Cytosorbents Co. will post -0.3 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTSO. StockNews.com began coverage on Cytosorbents in a report on Tuesday. They set a "hold" rating for the company. HC Wainwright reissued a "neutral" rating and issued a $1.00 target price on shares of Cytosorbents in a research report on Thursday, April 3rd. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $10.00 price objective on shares of Cytosorbents in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $4.67.

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.