Cytek Biosciences, Inc. (NASDAQ:CTKB) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus: Six firms covering Cytek Biosciences assign an average rating of "Hold" (2 sell, 2 hold, 2 buy) with a one-year average price target of about $5.38.
• Earnings showed a miss: Cytek reported Q4 EPS of ($0.34), missing the $0.02 consensus while posting $62.14 million in revenue (above estimates), and the company has a negative net margin (~33%) with analysts forecasting ~-0.26 EPS for the fiscal year.
• Ownership and stock profile: Institutional investors hold about 69.46% of the shares; the stock trades near $4.57 with a market cap of ~$584 million and a 52-week range of $2.37–$6.18.

Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Get Free Report) have been assigned an average rating of "Hold" from the six ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.3750.

CTKB has been the subject of several research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cytek Biosciences in a research note on Friday, March 27th. TD Cowen reiterated a "buy" rating on shares of Cytek Biosciences in a research note on Thursday, January 8th.

Institutional Investors Weigh In On Cytek Biosciences

Hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its stake in shares of Cytek Biosciences by 99.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 5,010 shares of the company's stock valued at $25,000 after buying an additional 2,500 shares during the period. Federated Hermes Inc. lifted its stake 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 buying an additional 4,343 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Cytek Biosciences by 86.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,144 shares of the company's stock valued at $26,000 after buying an additional 2,388 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Cytek Biosciences in the third quarter valued at about $43,000. Finally, Captrust Financial Advisors bought a new stake in shares of Cytek Biosciences in the second quarter valued at about $43,000. Institutional investors own 69.46% of the company's stock.

Cytek Biosciences Price Performance

CTKB stock opened at $4.57 on Tuesday. Cytek Biosciences has a 52-week low of $2.37 and a 52-week high of $6.18. The company has a 50-day moving average of $4.41 and a two-hundred day moving average of $4.70. The stock has a market capitalization of $584.32 million, a price-to-earnings ratio of -8.96 and a beta of 1.28.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.36). Cytek Biosciences had a negative net margin of 33.02% and a negative return on equity of 7.70%. The firm had revenue of $62.14 million for the quarter, compared to the consensus estimate of $58.80 million. Equities analysts expect that Cytek Biosciences will post -0.26 EPS for the current fiscal year.

About Cytek Biosciences

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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