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

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

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

Cytek Biosciences Trading Up 4.1%

Shares of NASDAQ CTKB opened at $4.09 on Wednesday. Cytek Biosciences has a twelve month low of $2.90 and a twelve month high of $6.18. The stock has a fifty day simple moving average of $4.25 and a 200-day simple moving average of $4.62. The stock has a market capitalization of $528.18 million, a PE ratio of -7.18 and a beta of 1.18.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Topline Capital Management LLC boosted its holdings in Cytek Biosciences by 32.7% in the third quarter. Topline Capital Management LLC now owns 6,944,280 shares of the company’s stock valued at $24,097,000 after purchasing an additional 1,713,020 shares during the period. Boston Partners boosted its holdings in Cytek Biosciences by 13,369.4% in the fourth quarter. Boston Partners now owns 5,008,309 shares of the company’s stock valued at $25,297,000 after purchasing an additional 4,971,126 shares during the period. Millennium Management LLC lifted its holdings in Cytek Biosciences by 39.0% during the 4th quarter. Millennium Management LLC now owns 4,752,447 shares of the company’s stock worth $24,000,000 after buying an additional 1,334,065 shares during the last quarter. State Street Corp lifted its holdings in Cytek Biosciences by 1.5% during the 4th quarter. State Street Corp now owns 4,146,964 shares of the company’s stock worth $20,942,000 after buying an additional 62,596 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Cytek Biosciences by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,790,574 shares of the company’s stock worth $14,096,000 after buying an additional 7,125 shares during the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

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.