Cytek Biosciences (CTKB) Projected to Post Quarterly Earnings on Wednesday

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, March 12th. Analysts expect the company to announce earnings of $0.06 per share and revenue of $59.38 million for the quarter. Investors that are interested in registering for the company's conference call can do so using this link.

Cytek Biosciences Trading Up 1.6 %

NASDAQ:CTKB traded up $0.07 on Friday, hitting $4.53. 717,763 shares of the company's stock traded hands, compared to its average volume of 812,670. The firm has a 50-day moving average price of $5.66 and a 200-day moving average price of $5.72. The company has a market cap of $580.28 million, a PE ratio of -56.62 and a beta of 1.41. Cytek Biosciences has a 1 year low of $4.20 and a 1 year high of $7.63.

Cytek Biosciences declared that its Board of Directors has approved a share buyback plan on Monday, December 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating for the company in a research note on Tuesday. The Goldman Sachs Group set a $5.25 price objective on Cytek Biosciences in a report on Sunday, February 2nd.

Remove Ads

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.