Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Free Report) has been given a consensus rating of “Hold” by the six analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.6875.
Several research analysts have recently weighed in on CTKB shares. Morgan Stanley decreased their price objective on shares of Cytek Biosciences from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Stephens cut their target price on shares of Cytek Biosciences from $5.50 to $4.75 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytek Biosciences in a research note on Wednesday, June 24th.
Check Out Our Latest Report on CTKB
Cytek Biosciences Price Performance
Cytek Biosciences (NASDAQ:CTKB – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The business had revenue of $44.13 million during the quarter, compared to analysts’ expectations of $44.23 million. Cytek Biosciences had a negative return on equity of 10.07% and a negative net margin of 36.25%. As a group, sell-side analysts expect that Cytek Biosciences will post -0.22 EPS for the current fiscal year.
Institutional Trading of Cytek Biosciences
A number of hedge funds have recently bought and sold shares of CTKB. SBI Securities Co. Ltd. lifted its holdings in Cytek Biosciences by 99.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 5,010 shares of the company’s stock valued at $25,000 after acquiring an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Cytek Biosciences by 86.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,144 shares of the company’s stock valued at $26,000 after purchasing an additional 2,388 shares during the period. Federated Hermes Inc. increased its position in shares of Cytek Biosciences by 150.9% during the 2nd quarter. Federated Hermes Inc. now owns 7,221 shares of the company’s stock valued at $25,000 after purchasing an additional 4,343 shares during the last quarter. M&T Bank Corp bought a new position in shares of Cytek Biosciences in the 4th quarter worth approximately $52,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Cytek Biosciences in the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.
About Cytek Biosciences
Cytek Biosciences is a biotechnology company specializing in innovative cell analysis solutions. The firm develops and commercializes advanced spectral flow cytometry instruments and associated reagents designed to enable high-parameter single-cell analysis. Its technology platform offers researchers and clinicians enhanced sensitivity, resolution and flexibility compared to traditional flow cytometry methods.
The company’s core product portfolio includes the Aurora and Northern Lights spectral cytometry systems, which support simultaneous detection of up to 64 fluorescence parameters.
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