Cytek Biosciences, Inc. (CTKB) – What Are Researchers Saying About This Stock?

Cytek Biosciences, Inc. (NASDAQ:CTKB) has been given an average recommendation of “Hold” by the six analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.56.

A number of research firms have commented on CTKB. Morgan Stanley set a $5.00 target price on Cytek Biosciences in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytek Biosciences in a research report on Monday, September 21st.

Cytek Biosciences Stock Performance

Shares of Cytek Biosciences stock opened at $5.25 on Tuesday. The firm has a market cap of $682.39 million, a PE ratio of -8.47 and a beta of 1.16. The firm’s 50-day simple moving average is $5.07 and its 200-day simple moving average is $4.58. Cytek Biosciences has a 1 year low of $3.31 and a 1 year high of $6.21.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The business had revenue of $48.14 million during the quarter, compared to the consensus estimate of $47.31 million. Cytek Biosciences had a negative return on equity of 12.40% and a negative net margin of 38.98%. On average, equities analysts predict that Cytek Biosciences will post -0.30 earnings per share for the current year.

Institutional Investors Weigh In On Cytek Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Cytek Biosciences during the second quarter worth $42,433,000. Hhlr Advisors LTD. bought a new stake in Cytek Biosciences during the second quarter valued at $29,491,000. Bank of America Corp DE bought a new stake in Cytek Biosciences during the second quarter valued at $5,827,000. Susquehanna International Group LLP increased its stake in Cytek Biosciences by 1,117.1% during the second quarter. Susquehanna International Group LLP now owns 681,705 shares of the company’s stock valued at $3,020,000 after purchasing an additional 625,695 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Cytek Biosciences during the second quarter worth $1,645,000. 69.46% of the stock is owned by institutional investors and hedge funds.

About Cytek Biosciences

Cytek Biosciences, Inc develops and manufactures cell analysis technologies for research, clinical, and biopharmaceutical applications. The company is best known for its full-spectrum flow cytometry platform, which captures a broader range of fluorescent light signals than conventional flow cytometers and is designed to support the analysis of complex cell populations.

Cytek’s product portfolio includes the Aurora and Northern Lights flow cytometers, which are available in configurations intended for a range of laboratory requirements.