Cytek Biosciences - CTKB Stock Forecast, Price & News

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Cytek Biosciences in the last twelve months. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" CTKB shares.
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3 brokers have issued 12 month price targets for Cytek Biosciences' stock. Their CTKB share price forecasts range from $14.00 to $15.00. On average, they predict the company's share price to reach $14.33 in the next year. This suggests a possible upside of 63.8% from the stock's current price.
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Cytek Biosciences' stock was trading at $10.21 at the beginning of 2023. Since then, CTKB stock has decreased by 14.3% and is now trading at $8.75.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 10th 2023.
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Cytek Biosciences, Inc. (NASDAQ:CTKB) announced its quarterly earnings results on Wednesday, August, 10th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The company had revenue of $40.16 million for the quarter, compared to analyst estimates of $41.34 million. Cytek Biosciences had a net margin of 1.69% and a trailing twelve-month return on equity of 0.98%.

ETFs with the largest weight of Cytek Biosciences (NASDAQ:CTKB) stock in their portfolio include First Trust Innovation Leaders ETF (ILDR), First Trust Nasdaq Lux Digital Health Solutions ETF (EKG), BlackRock Future Health ETF (BMED), Principal Healthcare Innovators ETF (BTEC), Invesco Dynamic Market ETF (PWC), iShares Biotechnology ETF (IBB).

Cytek Biosciences issued an update on its FY 2023 earnings guidance on Tuesday, February, 28th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $225.00 million-$235.00 million, compared to the consensus revenue estimate of $214.66 million.

(CTKB) raised $248 million in an initial public offering (IPO) on Friday, July 23rd 2021. The company issued 14,564,635 shares at $16.00-$18.00 per share.

Cytek Biosciences trades on the NASDAQ under the ticker symbol "CTKB."

Cytek Biosciences' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Geode Capital Management LLC (1.32%), Macquarie Group Ltd. (0.78%), New York State Common Retirement Fund (0.61%), Point72 Asset Management L.P. (0.60%), Miura Global Management LLC (0.58%) and Charles Schwab Investment Management Inc. (0.50%). Insiders that own company stock include Jack Ball, Ming Yan, Patrik Jeanmonod, Ra Capital Management, LP and Wenbin Jiang.
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Shares of CTKB stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CTKB stock can currently be purchased for approximately $8.75.

Cytek Biosciences (NASDAQ:CTKB) has a market capitalization of $1.19 billion and generates $164.04 million in revenue each year. The company earns $2.58 million in net income (profit) each year or $0.02 on an earnings per share basis.

The company employs 496 workers across the globe.

The official website for the company is www.cytekdev.com. The company can be reached via phone at 877-922-9835 or via email at investors@cytekbio.com.