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

Posted by Doug Wharley on Nov 8th, 2024

Cytek Biosciences (NASDAQ:CTKB – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03, Zacks reports. The company had revenue of $51.50 million for the quarter, compared to analysts’ expectations of $50.63 million. Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. During the same period last year, the firm earned ($0.03) EPS. Cytek Biosciences updated its FY 2024 guidance to EPS.

Cytek Biosciences Price Performance

Shares of CTKB traded down $0.28 during trading hours on Friday, hitting $6.94. 470,539 shares of the company were exchanged, compared to its average volume of 689,004. The company has a market capitalization of $912.65 million, a PE ratio of -90.25 and a beta of 1.32. The firm has a fifty day simple moving average of $5.26 and a 200-day simple moving average of $5.67. Cytek Biosciences has a one year low of $4.59 and a one year high of $9.87.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price objective on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th.

View Our Latest Analysis on CTKB

Cytek Biosciences Company Profile

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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.