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

Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One 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 12 month target price among brokerages that have issued a report on the stock in the last year is $5.6875.

A number of equities research analysts have recently issued reports on CTKB shares. Morgan Stanley lowered their target price on Cytek Biosciences from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytek Biosciences in a research note on Friday, March 27th. Finally, Stephens lowered their target price on Cytek Biosciences from $5.50 to $4.75 and set an “overweight” rating for the company in a research note on Wednesday.

Institutional Investors Weigh In On Cytek Biosciences

A number of large investors have recently modified their holdings of the stock. Topline Capital Management LLC grew its stake in shares of 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 buying an additional 1,713,020 shares in the last quarter. Boston Partners grew its stake in shares of 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 buying an additional 4,971,126 shares in the last quarter. Millennium Management LLC grew its stake in shares of Cytek Biosciences by 39.0% in the fourth quarter. Millennium Management LLC now owns 4,752,447 shares of the company’s stock valued at $24,000,000 after buying an additional 1,334,065 shares in the last quarter. State Street Corp grew its stake in shares of Cytek Biosciences by 1.5% in the fourth quarter. State Street Corp now owns 4,146,964 shares of the company’s stock valued at $20,942,000 after buying an additional 62,596 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Cytek Biosciences by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,790,574 shares of the company’s stock valued at $14,096,000 after buying an additional 7,125 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Cytek Biosciences Price Performance

Shares of NASDAQ:CTKB opened at $3.40 on Friday. The firm has a market capitalization of $439.09 million, a PE ratio of -5.96 and a beta of 1.22. The business has a 50-day moving average of $4.41 and a two-hundred day moving average of $4.74. Cytek Biosciences has a 12 month low of $2.37 and a 12 month high of $6.18.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The firm had revenue of $44.14 million for the quarter, compared to analyst estimates of $44.23 million. Cytek Biosciences had a negative return on equity of 10.07% and a negative net margin of 36.25%. As a group, research analysts anticipate that Cytek Biosciences will post -0.27 earnings per share for the current year.

About Cytek Biosciences

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.