Cytek Biosciences, Inc. (NASDAQ:CTKB) Receives Consensus Rating of “Hold” from Analysts

Cytek Biosciences, Inc. (NASDAQ:CTKBGet Free Report) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $5.6875.

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytek Biosciences in a research report on Friday, March 27th. Morgan Stanley reduced their price objective on Cytek Biosciences from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Finally, Stephens lowered their target price on Cytek Biosciences from $5.50 to $4.75 and set an “overweight” rating for the company in a research note on Wednesday, May 13th.

View Our Latest Stock Analysis on Cytek Biosciences

Institutional Trading of Cytek Biosciences

A number of large investors have recently made changes to their positions in CTKB. Topline Capital Management LLC increased its position in shares of Cytek Biosciences by 32.7% in the 3rd quarter. Topline Capital Management LLC now owns 6,944,280 shares of the company’s stock valued at $24,097,000 after purchasing an additional 1,713,020 shares during the last quarter. Boston Partners grew its stake in shares of Cytek Biosciences by 13,369.4% during the fourth quarter. Boston Partners now owns 5,008,309 shares of the company’s stock worth $25,297,000 after purchasing an additional 4,971,126 shares in the last quarter. Millennium Management LLC raised its stake in Cytek Biosciences by 39.0% in the fourth quarter. Millennium Management LLC now owns 4,752,447 shares of the company’s stock valued at $24,000,000 after buying an additional 1,334,065 shares in the last quarter. State Street Corp lifted its holdings in Cytek Biosciences by 1.5% during the 4th quarter. State Street Corp now owns 4,146,964 shares of the company’s stock worth $20,942,000 after buying an additional 62,596 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Cytek Biosciences by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,790,574 shares of the company’s stock worth $14,096,000 after acquiring an additional 7,125 shares in the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Cytek Biosciences Price Performance

Shares of Cytek Biosciences stock opened at $4.01 on Friday. The stock has a market capitalization of $517.85 million, a price-to-earnings ratio of -7.03 and a beta of 1.22. The business has a 50-day moving average of $4.36 and a 200 day moving average of $4.73. Cytek Biosciences has a 12 month low of $2.37 and a 12 month high of $6.18.

Cytek Biosciences (NASDAQ:CTKBGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Cytek Biosciences had a negative return on equity of 10.07% and a negative net margin of 36.25%.The business had revenue of $44.14 million for the quarter, compared to analyst estimates of $44.23 million. Equities research analysts anticipate that Cytek Biosciences will post -0.27 earnings per share for the current year.

About Cytek Biosciences

(Get Free Report)

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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Analyst Recommendations for Cytek Biosciences (NASDAQ:CTKB)

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