Cytek Biosciences, Inc. (NASDAQ:CTKB) Receives Average Recommendation of “Hold” from Brokerages

Cytek Biosciences, Inc. (NASDAQ:CTKB) has received an average rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.60.

A number of brokerages have recently commented on CTKB. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cytek Biosciences in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Cytek Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th.

Hedge Funds Weigh In On Cytek Biosciences

Several large investors have recently added to or reduced their stakes in CTKB. Topline Capital Management LLC lifted its holdings in 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 in the last quarter. CenterBook Partners LP purchased a new position in Cytek Biosciences during the first quarter valued at approximately $3,390,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cytek Biosciences in the first quarter worth $2,841,000. AQR Capital Management LLC lifted its holdings in shares of Cytek Biosciences by 89.6% in the second quarter. AQR Capital Management LLC now owns 1,238,393 shares of the company’s stock worth $4,211,000 after buying an additional 585,116 shares in the last quarter. Finally, Acuitas Investments LLC purchased a new position in shares of Cytek Biosciences in the first quarter worth $1,328,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Cytek Biosciences Price Performance

Shares of NASDAQ CTKB opened at $3.94 on Tuesday. The stock has a market cap of $501.25 million, a P/E ratio of -78.80 and a beta of 1.33. Cytek Biosciences has a 1 year low of $2.37 and a 1 year high of $7.63. The firm has a 50-day moving average of $3.93 and a 200 day moving average of $3.60.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings data on Tuesday, November 28th. The company reported $0.04 earnings per share for the quarter. The business had revenue of $40.48 million during the quarter. Cytek Biosciences had a negative net margin of 3.27% and a negative return on equity of 1.66%. Research analysts expect that Cytek Biosciences will post -0.06 earnings per share for the current fiscal year.

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.