Cytek Biosciences (NASDAQ:CTKB) Posts Earnings Results, Beats Estimates By $0.03 EPS

Cytek Biosciences (NASDAQ:CTKB) issued its earnings results on Tuesday. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03, Zacks reports. Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. The company had revenue of $51.50 million during the quarter, compared to the consensus estimate of $50.63 million. During the same period last year, the business posted ($0.03) EPS. Cytek Biosciences updated its FY 2024 guidance to EPS.

Cytek Biosciences Trading Up 31.4 %

Shares of CTKB traded up $1.71 on Wednesday, reaching $7.15. The company’s stock had a trading volume of 1,746,378 shares, compared to its average volume of 674,922. The stock has a market capitalization of $940.30 million, a PE ratio of -50.35 and a beta of 1.32. Cytek Biosciences has a twelve month low of $3.80 and a twelve month high of $9.87. The firm has a fifty day moving average of $5.20 and a 200-day moving average of $5.65.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased 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, August 13th.

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.