Phillip Chan Buys 200,000 Shares of Cytosorbents (NASDAQ:CTSO) Stock

Key Points

• CEO Phillip Chan purchased 200,000 Cytosorbents shares at an average price of $0.35, investing $70,000 and increasing his direct ownership by 11.47% to 1,944,432 shares.
• Cytosorbents reported quarterly revenue of $9.63 million and an adjusted loss of $0.07 per share, beating analyst estimates, but continues to post negative profitability metrics and is expected to lose $0.22 per share for the full fiscal year.
• The stock recently traded at $6.33, near its 52-week low of $6.00, while analyst sentiment remains mixed with a consensus “Hold” rating and institutional investors owning 32.87% of outstanding shares.

Cytosorbents Corporation (NASDAQ:CTSO - Get Free Report) CEO Phillip Chan bought 200,000 shares of Cytosorbents stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average price of $0.35 per share, with a total value of $70,000.00. Following the purchase, the chief executive officer directly owned 1,944,432 shares in the company, valued at $680,551.20. The trade was a 11.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Cytosorbents Stock Performance

CTSO traded down $0.52 during trading on Wednesday, reaching $6.33. 35,998 shares of the company's stock were exchanged, compared to its average volume of 7,777. Cytosorbents Corporation has a 1 year low of $6.00 and a 1 year high of $20.40. The company has a debt-to-equity ratio of 4.70, a current ratio of 0.66 and a quick ratio of 0.50. The stock has a market capitalization of $398.92 million, a P/E ratio of -21.83 and a beta of 1.34. The company's fifty day simple moving average is $7.38 and its 200-day simple moving average is $10.09.

Cytosorbents (NASDAQ:CTSO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical research company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.73. Cytosorbents had a negative net margin of 48.94% and a negative return on equity of 431.65%. The business had revenue of $9.63 million for the quarter, compared to the consensus estimate of $9.38 million. As a group, research analysts predict that Cytosorbents Corporation will post -0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Cytosorbents in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $107.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Avenir Corp increased its stake in shares of Cytosorbents by 2.9% in the 4th quarter. Avenir Corp now owns 5,230,099 shares of the medical research company's stock valued at $3,343,000 after purchasing an additional 147,261 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Cytosorbents during the third quarter worth approximately $161,000. Vanguard Group Inc. boosted its position in Cytosorbents by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,204,294 shares of the medical research company's stock worth $2,059,000 after purchasing an additional 79,535 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Cytosorbents by 149.2% in the first quarter. Goldman Sachs Group Inc. now owns 62,662 shares of the medical research company's stock valued at $63,000 after purchasing an additional 37,519 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of Cytosorbents by 127.3% in the third quarter. Citadel Advisors LLC now owns 65,690 shares of the medical research company's stock valued at $61,000 after buying an additional 36,790 shares in the last quarter. Institutional investors and hedge funds own 32.87% of the company's stock.

Cytosorbents Company Profile

Cytosorbents Corporation, founded in 2011 and headquartered in Princeton, New Jersey, is a medical device company focused on critical care and extracorporeal blood purification. The company's flagship product, CytoSorb, is a hemoadsorption cartridge designed to remove excessive inflammatory mediators such as cytokines, bilirubin and myoglobin from a patient's blood. By targeting the molecular drivers of hyperinflammation, CytoSorb is intended to stabilize patients undergoing septic shock, cardiac surgery, trauma and organ failure.

CytoSorb has secured regulatory clearance in Europe (CE mark) and is available in more than 65 countries, with a growing presence in Asia, the Middle East and Latin America.

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