Brokerages Set Cytek Biosciences, Inc. (NASDAQ:CTKB) PT at $5.50

by · The Markets Daily

Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Free Report) has been given an average rating of “Hold” by the eight analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $5.50.

CTKB has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytek Biosciences in a report on Monday, December 29th. Morgan Stanley started coverage on Cytek Biosciences in a research report on Monday, December 1st. They set an “equal weight” rating and a $6.00 target price on the stock. Piper Sandler dropped their price target on shares of Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Cowen restated a “buy” rating on shares of Cytek Biosciences in a research report on Thursday, January 8th. Finally, Zacks Research downgraded shares of Cytek Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th.

Read Our Latest Report on CTKB

Cytek Biosciences Stock Down 3.9%

NASDAQ:CTKB opened at $5.40 on Friday. Cytek Biosciences has a 52 week low of $2.37 and a 52 week high of $6.18. The stock’s 50-day moving average price is $5.21 and its 200-day moving average price is $4.32. The stock has a market capitalization of $690.44 million, a PE ratio of -53.99 and a beta of 1.30.

Institutional Investors Weigh In On Cytek Biosciences

Large investors have recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in shares of Cytek Biosciences by 150.9% in the second quarter. Federated Hermes Inc. now owns 7,221 shares of the company’s stock valued at $25,000 after acquiring an additional 4,343 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Cytek Biosciences in the 2nd quarter valued at $42,000. CIBC Bancorp USA Inc. purchased a new position in Cytek Biosciences in the 3rd quarter valued at $43,000. Captrust Financial Advisors acquired a new stake in Cytek Biosciences during the 2nd quarter worth $43,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Cytek Biosciences during the second quarter worth $48,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

About Cytek Biosciences

(Get Free Report)

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.

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