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

Cytek Biosciences, Inc. (NASDAQ:CTKB) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $5.50.

A number of research firms have issued reports on CTKB. Weiss Ratings restated a “sell (d-)” rating on shares of Cytek Biosciences in a research report on Monday, December 29th. Morgan Stanley began coverage on Cytek Biosciences in a report on Monday, December 1st. They set an “equal weight” rating and a $6.00 price target on the stock. Zacks Research cut Cytek Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Piper Sandler cut their price objective on Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, TD Cowen restated a “buy” rating on shares of Cytek Biosciences in a report on Thursday, January 8th.

Cytek Biosciences Stock Performance

Shares of Cytek Biosciences stock opened at $4.93 on Thursday. Cytek Biosciences has a 52-week low of $2.37 and a 52-week high of $6.18. The company’s 50 day moving average price is $5.19 and its 200-day moving average price is $4.48. The stock has a market capitalization of $630.35 million, a price-to-earnings ratio of -49.30 and a beta of 1.30.

Institutional Investors Weigh In On Cytek Biosciences

A number of large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its stake in Cytek Biosciences by 99.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 5,010 shares of the company’s stock worth $25,000 after buying an additional 2,500 shares in the last quarter. Federated Hermes Inc. raised its position 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 worth $25,000 after acquiring an additional 4,343 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Cytek Biosciences in the 2nd quarter valued at approximately $42,000. CIBC Bancorp USA Inc. bought a new stake in shares of Cytek Biosciences during the third quarter valued at approximately $43,000. Finally, Captrust Financial Advisors purchased a new stake in Cytek Biosciences in the second quarter worth $43,000. Institutional investors 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.