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

Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) have received an average recommendation of “Hold” from the six analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.6875.

Several equities analysts have recently weighed in on CTKB shares. Stephens decreased their price target on shares of Cytek Biosciences from $5.50 to $4.75 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytek Biosciences in a research note on Friday, March 27th. Finally, Morgan Stanley decreased their price target on shares of 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.

Cytek Biosciences Stock Up 2.2%

Shares of CTKB opened at $4.13 on Wednesday. The stock has a market capitalization of $533.35 million, a P/E ratio of -7.25 and a beta of 1.18. Cytek Biosciences has a twelve month low of $2.90 and a twelve month high of $6.18. The company has a 50 day moving average of $4.30 and a 200-day moving average of $4.67.

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

Institutional Investors Weigh In On Cytek Biosciences

Several large investors have recently made changes to their positions in CTKB. SBI Securities Co. Ltd. boosted its holdings in shares of Cytek Biosciences by 99.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 5,010 shares of the company’s stock valued at $25,000 after buying an additional 2,500 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Cytek Biosciences by 150.9% in the 2nd quarter. Federated Hermes Inc. now owns 7,221 shares of the company’s stock valued at $25,000 after buying an additional 4,343 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cytek Biosciences by 86.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,144 shares of the company’s stock valued at $26,000 after buying an additional 2,388 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Cytek Biosciences in the 3rd quarter valued at approximately $43,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Cytek Biosciences in the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

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.