Cytek Biosciences, Inc. (NASDAQ:CTKB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.60.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cytek Biosciences in a report on Saturday, September 27th.

Institutional Investors Weigh In On Cytek Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its position in Cytek Biosciences by 150.9% during the 2nd quarter. Federated Hermes Inc. now owns 7,221 shares of the company’s stock worth $25,000 after buying an additional 4,343 shares during the period. Brooklyn Investment Group boosted its position in Cytek Biosciences by 992,200.0% during the 1st quarter. Brooklyn Investment Group now owns 9,923 shares of the company’s stock worth $40,000 after buying an additional 9,922 shares during the period. US Bancorp DE boosted its position in Cytek Biosciences by 9,698.2% during the 1st quarter. US Bancorp DE now owns 10,680 shares of the company’s stock worth $43,000 after buying an additional 10,571 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in Cytek Biosciences during the 2nd quarter worth approximately $42,000. Finally, Captrust Financial Advisors acquired a new stake in Cytek Biosciences during the 2nd quarter worth approximately $43,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Cytek Biosciences Trading Down 5.7%

Shares of Cytek Biosciences stock opened at $3.79 on Friday. The firm has a market capitalization of $482.16 million, a PE ratio of -75.80 and a beta of 1.31. The firm’s 50 day moving average is $3.90 and its 200 day moving average is $3.57. Cytek Biosciences has a 1 year low of $2.37 and a 1 year high of $7.63.

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.