Cytek Biosciences, Inc. (NASDAQ:CTKB) Given Average Rating of “Hold” by Analysts

Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.6875.

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytek Biosciences in a report on Wednesday, June 24th. Morgan Stanley dropped their price target on shares of Cytek Biosciences from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Finally, Stephens cut their price target 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.

Institutional Investors Weigh In On Cytek Biosciences

Institutional investors have recently bought and sold shares of the stock. Topline Capital Management LLC boosted its holdings in Cytek Biosciences by 32.7% during the 3rd quarter. Topline Capital Management LLC now owns 6,944,280 shares of the company’s stock worth $24,097,000 after acquiring an additional 1,713,020 shares during the last quarter. Boston Partners lifted its position 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 valued at $25,297,000 after purchasing an additional 4,971,126 shares in the last quarter. Millennium Management LLC boosted its holdings in Cytek Biosciences by 39.0% during the fourth quarter. Millennium Management LLC now owns 4,752,447 shares of the company’s stock worth $24,000,000 after purchasing an additional 1,334,065 shares during the last quarter. State Street Corp grew its position in Cytek Biosciences by 1.5% in the 4th quarter. State Street Corp now owns 4,146,964 shares of the company’s stock worth $20,942,000 after purchasing an additional 62,596 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Cytek Biosciences by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,790,574 shares of the company’s stock valued at $14,096,000 after buying an additional 7,125 shares during the last quarter. Institutional investors own 69.46% of the company’s stock.

Cytek Biosciences Price Performance

Shares of NASDAQ:CTKB traded up $0.03 during trading on Friday, reaching $4.62. 788,320 shares of the stock were exchanged, compared to its average volume of 2,173,780. Cytek Biosciences has a 1-year low of $3.09 and a 1-year high of $6.18. The stock has a fifty day moving average of $4.17 and a two-hundred day moving average of $4.53. The firm has a market cap of $596.63 million, a price-to-earnings ratio of -8.11 and a beta of 1.17.

Cytek Biosciences (NASDAQ:CTKB) last posted 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). The business had revenue of $44.13 million during the quarter, compared to analyst estimates of $44.23 million. Cytek Biosciences had a negative net margin of 36.25% and a negative return on equity of 10.07%. Sell-side analysts forecast that Cytek Biosciences will post -0.22 EPS for the current year.

Cytek Biosciences Company Profile

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.