Cytek Biosciences (NASDAQ:CTKB - Get Free Report) had its price objective hoisted by analysts at Piper Sandler from $8.00 to $8.50 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential upside of 21.26% from the company's current price.
Cytek Biosciences Price Performance
Shares of CTKB stock traded down $0.04 on Monday, hitting $7.01. 985,576 shares of the company's stock were exchanged, compared to its average volume of 694,243. Cytek Biosciences has a 12 month low of $4.66 and a 12 month high of $9.87. The company has a 50 day moving average of $5.29 and a 200 day moving average of $5.67.
Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. The firm had revenue of $51.50 million during the quarter, compared to analysts' expectations of $50.63 million. During the same period in the prior year, the company posted ($0.03) EPS. On average, sell-side analysts forecast that Cytek Biosciences will post -0.11 EPS for the current fiscal year.
Institutional Trading of Cytek Biosciences
Hedge funds have recently bought and sold shares of the business. SlateStone Wealth LLC bought a new position in shares of Cytek Biosciences during the second quarter valued at about $70,000. Olympiad Research LP purchased a new position in shares of Cytek Biosciences during the 3rd quarter valued at $72,000. Everence Capital Management Inc. grew its stake in shares of Cytek Biosciences by 20.9% during the 3rd quarter. Everence Capital Management Inc. now owns 16,760 shares of the company's stock worth $93,000 after acquiring an additional 2,900 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Cytek Biosciences in the first quarter worth about $102,000. Finally, Dark Forest Capital Management LP raised its position in shares of Cytek Biosciences by 85.3% in the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company's stock valued at $118,000 after purchasing an additional 9,711 shares during the period. Institutional investors and hedge funds own 69.46% of the company's stock.
Cytek Biosciences Company Profile
(
Get Free Report)
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.
Read More
Before you consider Cytek Biosciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cytek Biosciences wasn't on the list.
While Cytek Biosciences currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
