Analysts Set Cytek Biosciences, Inc. (NASDAQ:CTKB) Target Price at $5.50

by · The Cerbat Gem

Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Free Report) have received a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.50.

A number of research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Cytek Biosciences in a report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Cytek Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th.

Check Out Our Latest Analysis on CTKB

Cytek Biosciences Trading Up 3.7%

Cytek Biosciences stock opened at $5.81 on Friday. The firm has a market capitalization of $742.38 million, a price-to-earnings ratio of -58.05 and a beta of 1.33. The firm has a 50 day moving average of $4.35 and a 200 day moving average of $3.79. Cytek Biosciences has a 12-month low of $2.37 and a 12-month high of $7.30.

Cytek Biosciences (NASDAQ:CTKB – Get Free Report) last announced its quarterly earnings results on Tuesday, November 28th. The company reported $0.04 EPS for the quarter. The company had revenue of $40.48 million during the quarter. Cytek Biosciences had a negative return on equity of 3.35% and a negative net margin of 6.51%. On average, analysts predict that Cytek Biosciences will post -0.06 EPS for the current year.

Institutional Trading of Cytek Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of CTKB. Topline Capital Management LLC boosted its stake in shares of Cytek Biosciences by 255.7% during the second quarter. Topline Capital Management LLC now owns 5,231,260 shares of the company’s stock valued at $17,786,000 after purchasing an additional 3,760,485 shares during the period. Wellington Management Group LLP bought a new position in Cytek Biosciences in the 3rd quarter worth about $8,817,000. Millennium Management LLC increased its position in shares of Cytek Biosciences by 269.6% during the third quarter. Millennium Management LLC now owns 3,418,382 shares of the company’s stock worth $11,862,000 after acquiring an additional 2,493,610 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cytek Biosciences during the first quarter worth approximately $2,841,000. Finally, AQR Capital Management LLC raised its stake in shares of Cytek Biosciences by 89.6% during the second quarter. AQR Capital Management LLC now owns 1,238,393 shares of the company’s stock valued at $4,211,000 after acquiring an additional 585,116 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

About Cytek Biosciences

(Get Free Report)

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.

Featured Articles