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

Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.56.

A number of brokerages have commented on CTKB. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytek Biosciences in a report on Monday, September 21st. Morgan Stanley set a $5.00 price objective on shares of Cytek Biosciences in a research report on Friday, August 7th.

Cytek Biosciences Stock Performance

NASDAQ CTKB opened at $5.25 on Tuesday. The company’s fifty day simple moving average is $5.08 and its 200-day simple moving average is $4.59. Cytek Biosciences has a 52 week low of $3.31 and a 52 week high of $6.21. The stock has a market cap of $682.39 million, a P/E ratio of -8.47 and a beta of 1.16.

Cytek Biosciences (NASDAQ:CTKB) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $48.14 million during the quarter, compared to the consensus estimate of $47.31 million. Cytek Biosciences had a negative net margin of 38.98% and a negative return on equity of 12.40%. On average, research analysts expect that Cytek Biosciences will post -0.30 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC boosted its stake in shares of Cytek Biosciences by 227.2% during the 2nd quarter. Squarepoint Ops LLC now owns 82,776 shares of the company’s stock valued at $367,000 after buying an additional 57,480 shares during the last quarter. AXQ Capital LP grew its position in shares of Cytek Biosciences by 43.6% during the second 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. Susquehanna International Group LLP grew its position in shares of Cytek Biosciences by 1,117.1% during the second quarter. Susquehanna International Group LLP now owns 681,705 shares of the company’s stock worth $3,020,000 after buying an additional 625,695 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Cytek Biosciences in the second quarter worth $50,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Cytek Biosciences in the second quarter worth $86,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Cytek Biosciences Company Profile

Cytek Biosciences, Inc develops and manufactures cell analysis technologies for research, clinical, and biopharmaceutical applications. The company is best known for its full-spectrum flow cytometry platform, which captures a broader range of fluorescent light signals than conventional flow cytometers and is designed to support the analysis of complex cell populations.

Cytek’s product portfolio includes the Aurora and Northern Lights flow cytometers, which are available in configurations intended for a range of laboratory requirements.