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Cytek Biosciences' (CTKB) "Sell (E+)" Rating Reiterated at Weiss Ratings

Cytek Biosciences logo with Medical background

Key Points

  • Cytek Biosciences' stock has been given a "Sell (E+)" rating by Weiss Ratings, despite a recent upgrade by Zacks Research to a "strong-buy" rating.
  • The stock is trading at $3.90 and has experienced a 2.9% increase recently, with a market capitalization of approximately $496 million.
  • Institutional investors hold 69.46% of Cytek Biosciences' stock, indicating significant interest from larger investment entities.
  • Five stocks to consider instead of Cytek Biosciences.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report)'s stock had its "sell (e+)" rating restated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Zacks Research raised shares of Cytek Biosciences from a "hold" rating to a "strong-buy" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.60.

Get Our Latest Report on Cytek Biosciences

Cytek Biosciences Trading Up 2.9%

CTKB traded up $0.11 during trading on Wednesday, reaching $3.90. 460,222 shares of the company's stock were exchanged, compared to its average volume of 938,778. Cytek Biosciences has a one year low of $2.37 and a one year high of $7.63. The stock has a market capitalization of $496.17 million, a PE ratio of -78.00 and a beta of 1.31. The firm has a fifty day moving average price of $3.90 and a two-hundred day moving average price of $3.58.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CTKB. Wealth Enhancement Advisory Services LLC acquired a new position in Cytek Biosciences during the first quarter worth $63,000. Diversified Trust Co acquired a new position in Cytek Biosciences during the first quarter worth $98,000. New York State Teachers Retirement System raised its holdings in Cytek Biosciences by 6.8% during the first quarter. New York State Teachers Retirement System now owns 48,463 shares of the company's stock worth $194,000 after buying an additional 3,100 shares during the last quarter. Acuitas Investments LLC acquired a new position in Cytek Biosciences during the first quarter worth $1,328,000. Finally, Principal Financial Group Inc. raised its holdings in Cytek Biosciences by 2.7% during the first quarter. Principal Financial Group Inc. now owns 520,743 shares of the company's stock worth $2,088,000 after buying an additional 13,818 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company's stock.

Cytek Biosciences Company Profile

(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.

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Analyst Recommendations for Cytek Biosciences (NASDAQ:CTKB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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