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

Cytek Biosciences (NASDAQ:CTKB) is expected to announce 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 listen to the company’s conference call can do so using this link.

Cytek Biosciences Stock Performance

CTKB stock opened at $5.22 on Tuesday. Cytek Biosciences has a 52 week low of $4.66 and a 52 week high of $9.33. The firm’s fifty day moving average is $5.95 and its 200 day moving average is $5.77. The firm has a market cap of $672.39 million, a P/E ratio of -65.24 and a beta of 1.40.

Cytek Biosciences announced that its Board of Directors has initiated a share repurchase program on Monday, December 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $5.25 price target on shares of Cytek Biosciences in a report on Sunday, February 2nd. Piper Sandler raised their price target on shares of Cytek Biosciences from $8.00 to $8.50 and gave the stock an “overweight” rating in a report 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.