Zacks Investment Research upgraded shares of Cytori Therapeutics Inc (NASDAQ:CYTX) from a strong sell rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “Cytori Therapeutics, Inc. is discovering and developing proprietary cell-based therapeutics utilizing adult stem and regenerative cells derived from adipose tissue, also known as fat. The Company’s preclinical investigational therapies target cardiovascular disease, spine and orthopedic conditions, gastrointestinal disorders, and new approaches for aesthetic and reconstructive surgery. To facilitate processing and delivery of adipose stem and regenerative cells, Cytori has developed its proprietary Celution System to isolate and concentrate a patient’s own stem and regenerative cells in about an hour. This system will dramatically improve the speed in which personalized cell-based therapies can be delivered to patients. “
CYTX has been the topic of a number of other research reports. Maxim Group reiterated a buy rating and set a $6.00 price target on shares of Cytori Therapeutics in a report on Tuesday, January 24th. B. Riley reiterated a buy rating and set a $2.30 price target on shares of Cytori Therapeutics in a report on Wednesday, May 10th.
Cytori Therapeutics (NASDAQ:CYTX) opened at 0.96 on Friday. The company’s 50-day moving average price is $1.15 and its 200 day moving average price is $1.50. The stock’s market capitalization is $22.63 million. Cytori Therapeutics has a 52-week low of $0.90 and a 52-week high of $3.40.
Cytori Therapeutics (NASDAQ:CYTX) last issued its earnings results on Thursday, May 11th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.05. Cytori Therapeutics had a negative return on equity of 172.63% and a negative net margin of 314.07%. The business had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $2.32 million. During the same period in the previous year, the firm posted ($0.03) EPS. The company’s quarterly revenue was down 53.8% on a year-over-year basis. On average, equities research analysts anticipate that Cytori Therapeutics will post ($1.07) earnings per share for the current year.
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A hedge fund recently raised its stake in Cytori Therapeutics stock. Perkins Capital Management Inc. raised its position in shares of Cytori Therapeutics Inc (NASDAQ:CYTX) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 439,679 shares of the biotechnology company’s stock after buying an additional 40,839 shares during the period. Perkins Capital Management Inc. owned about 1.87% of Cytori Therapeutics worth $703,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 14.17% of the company’s stock.
About Cytori Therapeutics
Cytori Therapeutics, Inc (Cytori) is a biotechnology company engaged in the development of treatments and devices for a range of disorders using cells as a key part of the therapy. The Company develops cellular therapeutics formulated and optimized for specific diseases and medical conditions and related products.
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