Cytek Biosciences, Inc. (NASDAQ:CTKB) Stock Has Consensus Target Price of $5.56

by · The Cerbat Gem

Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Free Report) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.56.

A number of analysts recently commented on the stock. Morgan Stanley set a $5.00 price objective on shares of Cytek Biosciences in a report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Cytek Biosciences in a research report on Monday, September 21st.

Get Our Latest Stock Analysis on Cytek Biosciences

Cytek Biosciences Stock Performance

Cytek Biosciences stock opened at $5.41 on Tuesday. Cytek Biosciences has a one year low of $3.31 and a one year high of $6.21. The business has a fifty day moving average of $5.05 and a two-hundred day moving average of $4.58. The company has a market cap of $703.21 million, a P/E ratio of -8.73 and a beta of 1.16.

Cytek Biosciences (NASDAQ:CTKB – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The business had revenue of $48.14 million for the quarter, compared to analysts’ expectations of $47.31 million. Cytek Biosciences had a negative net margin of 38.98% and a negative return on equity of 12.40%. Sell-side analysts predict that Cytek Biosciences will post -0.30 EPS for the current year.

Hedge Funds Weigh In On Cytek Biosciences

Hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC boosted its position in Cytek Biosciences by 227.2% during the second quarter. Squarepoint Ops LLC now owns 82,776 shares of the company’s stock worth $367,000 after purchasing an additional 57,480 shares in the last quarter. AXQ Capital LP raised its stake in shares of Cytek Biosciences by 43.6% during the 2nd quarter. AXQ Capital LP now owns 28,299 shares of the company’s stock worth $125,000 after buying an additional 8,591 shares during the last quarter. Susquehanna International Group LLP raised its stake in shares of Cytek Biosciences by 1,117.1% during the 2nd quarter. Susquehanna International Group LLP now owns 681,705 shares of the company’s stock worth $3,020,000 after buying an additional 625,695 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Cytek Biosciences during the 2nd quarter worth $50,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Cytek Biosciences in the 2nd quarter worth about $86,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Cytek Biosciences Company Profile

(Get Free Report)

Cytek Biosciences, Inc develops and manufactures cell analysis technologies for research, clinical, and biopharmaceutical applications. The company is best known for its full-spectrum flow cytometry platform, which captures a broader range of fluorescent light signals than conventional flow cytometers and is designed to support the analysis of complex cell populations.

Cytek’s product portfolio includes the Aurora and Northern Lights flow cytometers, which are available in configurations intended for a range of laboratory requirements.

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