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

Cytek Biosciences, Inc. (NASDAQ:CTKB) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment 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 target among brokerages that have covered the stock in the last year is $5.6875.

A number of analysts have recently commented on CTKB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytek Biosciences in a research note on Friday, March 27th. Morgan Stanley lowered their target price on Cytek Biosciences from $6.00 to $5.50 and set an “equal weight” rating for the company 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.

Institutional Trading of Cytek Biosciences

A number of large investors have recently bought and sold shares of CTKB. AQR Capital Management LLC increased its stake in Cytek Biosciences by 394.4% during the 1st quarter. AQR Capital Management LLC now owns 653,277 shares of the company’s stock worth $2,620,000 after purchasing an additional 521,135 shares in the last quarter. Jane Street Group LLC increased its stake in Cytek Biosciences by 412.2% during the 1st quarter. Jane Street Group LLC now owns 344,169 shares of the company’s stock worth $1,380,000 after purchasing an additional 276,972 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Cytek Biosciences during the 1st quarter worth approximately $162,000. Strs Ohio bought a new stake in Cytek Biosciences during the 1st quarter worth approximately $105,000. Finally, Creative Planning increased its stake in Cytek Biosciences by 455.4% during the 2nd quarter. Creative Planning now owns 55,677 shares of the company’s stock worth $189,000 after purchasing an additional 45,652 shares in the last quarter. 69.46% of the stock is owned by institutional investors.

Cytek Biosciences Price Performance

Shares of CTKB stock opened at $4.13 on Wednesday. The stock has a market cap of $533.35 million, a PE ratio of -7.25 and a beta of 1.18. The stock has a 50-day moving average of $4.30 and a 200-day moving average of $4.67. Cytek Biosciences has a one year low of $2.90 and a one year high of $6.18.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The company had revenue of $44.14 million during the quarter, compared to the consensus estimate of $44.23 million. Cytek Biosciences had a negative net margin of 36.25% and a negative return on equity of 10.07%. As a group, research analysts anticipate that Cytek Biosciences will post -0.22 earnings per share for the current year.

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.