Cytek Biosciences (CTKB) Expected to Announce Quarterly Earnings on Thursday

Cytek Biosciences (NASDAQ:CTKB) is expected to be announcing its earnings results after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of $0.05 per share and revenue of $59.38 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Cytek Biosciences Price Performance

NASDAQ CTKB opened at $5.13 on Wednesday. The company has a 50 day simple moving average of $5.92 and a 200-day simple moving average of $5.77. The firm has a market capitalization of $660.80 million, a price-to-earnings ratio of -64.12 and a beta of 1.40. Cytek Biosciences has a 52-week low of $4.66 and a 52-week high of $9.33.

Cytek Biosciences announced that its board has initiated a share repurchase program on Monday, December 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CTKB shares. The Goldman Sachs Group set a $5.25 price target on shares of Cytek Biosciences in a research report on Sunday, February 2nd. Piper Sandler increased their price objective on Cytek Biosciences from $8.00 to $8.50 and gave the stock an “overweight” rating in a report on Monday, November 11th.

About Cytek Biosciences

Cytek Biosciences, Inc, a cell analysis solutions company, provides cell analysis tools that facilitates scientific advances in biomedical research and clinical applications. It offers aurora and northern lights systems, which are spectrum flow cytometers that delivers cell analysis by utilizing the fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells; and aurora cell sorter system that leverages full spectrum profiling technology to further broaden potential applications across cell analysis; aurora CS systems; amnis imagestream imaging flow cytometers; guava muse cell analyzers; guava easycyte flow cytometers; and orion reagent cocktail preparation systems.