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

Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) have received an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $5.3750.

CTKB has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytek Biosciences in a research report on Friday, March 27th. TD Cowen reissued a “buy” rating on shares of Cytek Biosciences in a research note on Thursday, January 8th.

Institutional Trading of Cytek Biosciences

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Cytek Biosciences by 394.4% in the first quarter. AQR Capital Management LLC now owns 653,277 shares of the company’s stock worth $2,620,000 after buying an additional 521,135 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Cytek Biosciences by 412.2% during the first quarter. Jane Street Group LLC now owns 344,169 shares of the company’s stock valued at $1,380,000 after buying an additional 276,972 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Cytek Biosciences during the first quarter valued at approximately $162,000. Strs Ohio bought a new stake in shares of Cytek Biosciences during the first quarter valued at approximately $105,000. Finally, PNC Financial Services Group Inc. raised its holdings in Cytek Biosciences by 331.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 16,478 shares of the company’s stock worth $56,000 after acquiring an additional 12,662 shares during the last quarter. 69.46% of the stock is owned by hedge funds and other institutional investors.

Cytek Biosciences Price Performance

NASDAQ:CTKB opened at $4.53 on Friday. The firm has a market capitalization of $579.23 million, a P/E ratio of -8.88 and a beta of 1.27. Cytek Biosciences has a one year low of $2.37 and a one year high of $6.18. The company’s 50-day simple moving average is $4.49 and its 200 day simple moving average is $4.61.

Cytek Biosciences (NASDAQ:CTKB) last announced its earnings results on Thursday, February 26th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.36). Cytek Biosciences had a negative net margin of 33.02% and a negative return on equity of 7.70%. The business had revenue of $62.14 million for the quarter, compared to the consensus estimate of $58.80 million. On average, equities research analysts expect that Cytek Biosciences will post -0.06 earnings per share for the current fiscal 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.