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Investors look to Lighten Up on Shares of Cytori Therapeutics, Shares Down 5.7% (CYTX)

Published on Fri, 08/09/2013 - 12:38
By Peter Chu

Cytori Therapeutics (NASDAQ:CYTX) is one of today's worst performing low-priced stocks, down 5.7% to $2.50 on 1.3x average daily volume. Cytori Therapeutics has traded 281,000 shares thus far today, vs. average volume of 211,000 shares per day. The stock has underperformed the Dow (-5.7% to the Dow's -0.6%) and underperformed the S&P 500 (-5.7% to the S&P's -0.3%) during today's trading.

Cytori Therapeutics, Inc. discovers and develops cell-based therapeutics utilizing adult stem cells derived from fat tissue. The Company's investigational therapies target cardiovascular disease, spine and orthopedic conditions, gastrointestinal disorders, and new approaches for aesthetic and reconstructive surgery.

Over the past year, Cytori Therapeutics has traded in a range of $2.20 to $4.93 and is now at $2.50, 14% above that low. The 200-day and 50-day moving averages have moved 1.18% lower and 0.47% higher over the past week, respectively.

Cytori Therapeutics (NASDAQ:CYTX) has potential upside of 165.0% based on a current price of $2.50 and analysts' consensus price target of $6.62. Cytori Therapeutics shares should encounter resistance at the 200-day moving average (MA) of $2.82 and support at the 50-day MA of $2.49.

By Peter Chu
pchu@fnno.com

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