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

Cytek Biosciences, Inc. (NASDAQ:CTKB) has been given a consensus rating of “Hold” by the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.88.

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Cytek Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday. Stephens reissued an “overweight” rating and issued a $6.00 price target on shares of Cytek Biosciences in a research report on Friday, October 23rd. Morgan Stanley set a $5.00 target price on Cytek Biosciences in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytek Biosciences in a report on Monday, September 21st.

Cytek Biosciences Stock Performance

Shares of CTKB opened at $5.83 on Friday. The company has a market capitalization of $757.78 million, a P/E ratio of -9.25 and a beta of 1.15. Cytek Biosciences has a fifty-two week low of $3.31 and a fifty-two week high of $6.34. The business’s 50-day moving average is $5.39 and its two-hundred day moving average is $4.67.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $53.23 million during the quarter, compared to analysts’ expectations of $53.05 million. Cytek Biosciences had a negative net margin of 38.98% and a negative return on equity of 12.40%. Analysts forecast that Cytek Biosciences will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Cytek Biosciences

Several large investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Cytek Biosciences during the 2nd quarter worth about $29,000. AXQ Capital LP lifted its position in shares of Cytek Biosciences by 43.6% during the 2nd quarter. AXQ Capital LP now owns 28,299 shares of the company’s stock worth $125,000 after buying an additional 8,591 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Cytek Biosciences during the 2nd quarter valued at $50,000. Pallas Capital Advisors LLC bought a new position in shares of Cytek Biosciences during the second quarter valued at approximately $50,000. Finally, Legal & General Group Plc purchased a new stake in Cytek Biosciences in the second quarter worth about $52,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Cytek Biosciences Company Profile

Cytek Biosciences, Inc develops and commercializes cell analysis solutions for biomedical research, clinical research and biopharmaceutical applications. The company focuses on spectral flow cytometry, a technology that enables researchers to analyze multiple characteristics of individual cells and identify complex cell populations.

Its product portfolio includes the Aurora and Northern Lights spectral flow cytometers, compact and specialized instruments, cell sorters, software and a range of fluorescent reagents.