Do Hedge Funds Love Cytosorbents Corp (CTSO)?

As aggregate interest increased, key hedge funds were leading the bulls’ herd. Skylands Capital established the most outsized position in Cytosorbents Corp (NASDAQ:CTSO), followed by Millennium Management. The only other fund with a new position in the stock is Matthew Hulsizer’s PEAK6 Capital Management.

Let’s go over hedge fund activity in other stocks similar to Cytosorbents Corp (NASDAQ:CTSO). We will take a look at CytRx Corporation (NASDAQ:CYTR), Skullcandy Inc (NASDAQ:SKUL), GulfMark Offshore, Inc. (NYSE:GLF), and ROI Acquisition Corp (NASDAQ:ROIQ). All of these stocks’ market caps resemble CTSO’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $27 million. That figure was $1 million in CTSO’s case. Skullcandy Inc (NASDAQ:SKUL) is the most popular stock in this table, while CytRx Corporation (NASDAQ:CYTR) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Cytosorbents Corp (NASDAQ:CTSO) is even less popular than CYTR. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.