Cytek Biosciences (NASDAQ:CTKB - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02, Zacks reports. The business had revenue of $57.48 million during the quarter, compared to the consensus estimate of $59.38 million. Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. Cytek Biosciences updated its FY 2025 guidance to EPS.
Cytek Biosciences Trading Down 4.2 %
Shares of NASDAQ:CTKB traded down $0.19 during trading on Monday, reaching $4.30. The company's stock had a trading volume of 865,073 shares, compared to its average volume of 805,091. Cytek Biosciences has a 12 month low of $4.22 and a 12 month high of $9.33. The firm's 50 day simple moving average is $5.83 and its two-hundred day simple moving average is $5.76. The stock has a market capitalization of $553.89 million, a PE ratio of -53.74 and a beta of 1.40.
Cytek Biosciences announced that its board has authorized a share repurchase program on Monday, December 30th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CTKB. The Goldman Sachs Group set a $5.25 price objective on Cytek Biosciences in a research report on Sunday, February 2nd. Piper Sandler lifted their price objective on Cytek Biosciences from $8.00 to $8.50 and gave the stock an "overweight" rating in a research note on Monday, November 11th.
Check Out Our Latest Stock Report on Cytek Biosciences
Cytek Biosciences Company Profile
(
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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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