Its Stock Has Paid Off Big Time For Cytek Biosciences Inc.

Cytek Biosciences Inc. (NASDAQ: CTKB) stock jumped 11.38% on Wednesday to $14.19 against a previous-day closing price of $12.74. With 0.67 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $14.33 whereas the lowest price it dropped to was $12.77. The 52-week range on CTKB shows that it touched its highest point at $26.50 and its lowest point at $7.38 during that stretch. It currently has a 1-year price target of $16.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CTKB was up-trending over the past week, with a rise of 9.83%, but this was up by 22.01% over a month. Three-month performance surged to 30.54% while six-month performance rose 29.12%. The stock lost -36.96% in the past year, while it has lost -13.05% so far this year. A look at the trailing 12-month EPS for CTKB yields -0.02 with Next year EPS estimates of 0.13. For the next quarter, that number is 0.02. This implies an EPS growth rate of -100.00% for this year and 68.83% for next year.

Float and Shares Shorts:

At present, 134.40 million CTKB shares are outstanding with a float of 111.32 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.21 million, which was 2.39% higher than short shares on Jun 14, 2022. In addition to Dr. Wenbin Jiang Ph.D. as the firm’s Pres, CEO & Chairman, Mr. Patrik Sebastian Jeanmonod serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 46.49% of CTKB’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 27.45% of CTKB, in contrast to 23.81% held by mutual funds. Shares owned by individuals account for 11.60%. As the largest shareholder in CTKB with 9.94% of the stake, RA Capital Management LP holds 13,381,054 shares worth 13,381,054. A second-largest stockholder of CTKB, HHLR Advisors Ltd., holds 8,757,030 shares, controlling over 6.51% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CTKB, holding 6,059,859 shares or 4.50% stake. With a 1.86% stake in CTKB, the iShares Russell 2000 ETF is the largest stakeholder. A total of 2,502,744 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.62% of CTKB stock, is the second-largest Mutual Fund holder. It holds 2,178,455 shares valued at 25.38 million. Vanguard Small Cap Index Fund holds 1.39% of the stake in CTKB, owning 1,876,940 shares worth 21.87 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTKB since 4 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CTKB analysts setting a high price target of $17.00 and a low target of $15.00, the average target price over the next 12 months is $16.00. Based on these targets, CTKB could surge 19.8% to reach the target high and rise by 5.71% to reach the target low. Reaching the average price target will result in a growth of 12.76% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CTKB will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $0.11 being high and -$0.02 being low. For CTKB, this leads to a yearly average estimate of $0.04. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cytek Biosciences Inc. surprised analysts by $0.02 when it reported $0.03 EPS against a consensus estimate of $0.01. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is $0.03 and the low estimate is -$0.01. The average estimate for the next quarter is thus $0.01.

Summary of Insider Activity:

Insiders traded CTKB stock several times over the past three months with 5 Buys and 11 Sells. In these transactions, 13,297 shares were bought while 92,028 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 31 over the past year. The total number of shares bought during that period was 3,955,229 while 333,936 shares were sold.

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