Cytosorbents Corporation (NASDAQ:CTSO) Shares Shorted: Short Interest Down 94.8% in September

Cytosorbents Corporation (NASDAQ:CTSO) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 120,606 shares, a decrease of 94.8% from the August 31st total of 2,306,196 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 45,552 shares, the short-interest ratio is currently 2.6 days.

Insider Buying and Selling

In other news, CEO Phillip Chan bought 200,000 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were purchased at an average cost of $0.35 per share, with a total value of $70,000.00. Following the acquisition, the chief executive officer directly owned 1,944,432 shares in the company, valued at $680,551.20. This represents a 11.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Cytosorbents Price Performance

Shares of CTSO traded down $0.61 during midday trading on Thursday, hitting $4.30. The company’s stock had a trading volume of 24,856 shares, compared to its average volume of 25,793. The company has a quick ratio of 0.50, a current ratio of 0.66 and a debt-to-equity ratio of 4.70. Cytosorbents has a one year low of $3.94 and a one year high of $20.40. The stock has a market capitalization of $13.54 million, a price-to-earnings ratio of -0.74 and a beta of 1.34. The company’s fifty day simple moving average is $6.87 and its two-hundred day simple moving average is $9.33.

Cytosorbents (NASDAQ:CTSO) last announced its quarterly earnings data on Thursday, August 6th. The medical research company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.73. Cytosorbents had a negative return on equity of 431.65% and a negative net margin of 48.94%.The business had revenue of $9.63 million during the quarter, compared to the consensus estimate of $9.38 million. As a group, equities analysts expect that Cytosorbents will post -4.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cytosorbents in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $107.50.

About Cytosorbents

CytoSorbents Corporation develops medical devices and blood-purification technologies designed to remove harmful substances from the bloodstream. Its proprietary technology uses porous polymer adsorbent beads that can capture and reduce levels of inflammatory mediators, drugs, toxins and other compounds without selectively removing beneficial blood components.

The company’s principal product, CytoSorb, is used in extracorporeal blood purification applications, including the management of cytokine storms and other inflammatory conditions associated with critical illness, cardiac surgery, trauma and sepsis.