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

Cytek Biosciences (NASDAQ:CTKB) will likely be announcing its earnings results after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of $0.05 per share and revenue of $59.38 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Cytek Biosciences Price Performance

NASDAQ CTKB opened at $5.22 on Tuesday. Cytek Biosciences has a 1 year low of $4.66 and a 1 year high of $9.33. The stock has a market capitalization of $672.39 million, a PE ratio of -65.24 and a beta of 1.40. The company’s 50 day simple moving average is $5.95 and its two-hundred day simple moving average is $5.77.

Cytek Biosciences announced that its board has initiated a stock buyback program on Monday, December 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTKB shares. The Goldman Sachs Group set a $5.25 target price on shares of Cytek Biosciences in a research note on Sunday, February 2nd. Piper Sandler increased their target price on shares of Cytek Biosciences from $8.00 to $8.50 and gave the stock an “overweight” rating in a research note on Monday, November 11th.

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.