Cytek Biosciences (CTKB) to Release Earnings on Wednesday

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter. Parties interested in participating in the company's conference call can do so using this link.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last announced its earnings results on Wednesday, March 13th. The company reported $0.04 EPS for the quarter. Cytek Biosciences had a negative net margin of 6.29% and a negative return on equity of 1.40%. The firm had revenue of $58.23 million for the quarter, compared to analysts' expectations of $56.66 million. On average, analysts expect Cytek Biosciences to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cytek Biosciences Stock Up 6.0 %

Shares of CTKB stock traded up $0.36 during mid-day trading on Wednesday, reaching $6.37. 904,360 shares of the company's stock traded hands, compared to its average volume of 725,197. Cytek Biosciences has a 12 month low of $3.80 and a 12 month high of $12.31. The company has a market cap of $836.15 million, a P/E ratio of -70.78 and a beta of 1.37. The company's 50-day moving average price is $6.86 and its 200-day moving average price is $7.11.

Insider Buying and Selling

In other Cytek Biosciences news, CTO Ming Yan sold 20,000 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $6.77, for a total value of $135,400.00. Following the completion of the transaction, the chief technology officer now owns 6,030,402 shares of the company's stock, valued at approximately $40,825,821.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 41,900 shares of company stock worth $266,100 in the last quarter. Corporate insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTKB. The Goldman Sachs Group upped their price target on shares of Cytek Biosciences from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. Piper Sandler dropped their price target on shares of Cytek Biosciences from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.00.

Cytek Biosciences Company Profile

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.