Cytek Biosciences (CTKB) Projected to Post Earnings on Wednesday

Cytek Biosciences (NASDAQ:CTKB) is expected to be releasing its earnings data after the market closes on Wednesday, March 12th. Analysts expect Cytek Biosciences to post earnings of $0.06 per share and revenue of $59.38 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Cytek Biosciences Trading Up 0.2 %

Shares of CTKB stock opened at $4.31 on Wednesday. The firm has a market capitalization of $555.18 million, a P/E ratio of -53.87 and a beta of 1.40. The firm’s fifty day simple moving average is $5.74 and its 200 day simple moving average is $5.74. Cytek Biosciences has a 1 year low of $4.20 and a 1 year high of $8.44.

Cytek Biosciences announced that its Board of Directors has approved a share repurchase plan on Monday, December 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler cut their price objective on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a report on Tuesday. The Goldman Sachs Group set a $5.25 target price on Cytek Biosciences in a research report on Sunday, February 2nd.

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.