Cytek Biosciences (CTKB) Expected to Announce Quarterly Earnings on Wednesday

Cytek Biosciences (NASDAQ:CTKB) is expected to release 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. Parties interested in registering for the company’s conference call can do so using this link.

Cytek Biosciences Price Performance

Shares of NASDAQ:CTKB opened at $4.31 on Wednesday. Cytek Biosciences has a 12 month low of $4.20 and a 12 month high of $8.44. The firm has a market capitalization of $555.18 million, a P/E ratio of -53.87 and a beta of 1.40. The company’s fifty day moving average price is $5.74 and its 200 day moving average price is $5.74.

Cytek Biosciences announced that its Board of Directors has authorized a stock buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

About Cytek Biosciences

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.