Cytek Biosciences, Inc. (NASDAQ:CTKB) Short Interest Update

Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,160,000 shares, an increase of 321.4% from the March 15th total of 987,100 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 5.5% of the shares of the stock are short sold.

CTKB opened at $10.21 on Wednesday. Cytek Biosciences has a twelve month low of $9.71 and a twelve month high of $28.70. The firm’s fifty day moving average is $12.53 and its two-hundred day moving average is $16.99.

Cytek Biosciences (NASDAQ:CTKB – Get Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $38.89 million for the quarter. Research analysts predict that Cytek Biosciences will post 0.05 earnings per share for the current year.

In other Cytek Biosciences news, Director Ra Capital Management, L.P. purchased 342,143 shares of the stock in a transaction that occurred on Monday, March 14th. The shares were purchased at an average cost of $12.35 per share, for a total transaction of $4,225,466.05. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wenbin Jiang sold 20,000 shares of the stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $10.54, for a total value of $210,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,168,400 shares of company stock valued at $28,646,518 and sold 120,000 shares valued at $1,555,600.

A number of large investors have recently modified their holdings of CTKB. Strs Ohio bought a new stake in shares of Cytek Biosciences during the third quarter worth $79,000. SG Americas Securities LLC acquired a new position in Cytek Biosciences in the 3rd quarter valued at approximately $148,000. New York State Common Retirement Fund acquired a new position in Cytek Biosciences during the 3rd quarter worth about $120,000. Deutsche Bank AG bought a new stake in shares of Cytek Biosciences in the 3rd quarter valued at $212,000. Finally, BlackRock Inc. acquired a new stake in Cytek Biosciences during the third quarter worth approximately $39,711,000. 25.63% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on CTKB shares. Zacks Investment Research downgraded Cytek Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, April 7th. Morgan Stanley dropped their target price on Cytek Biosciences from $27.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 15th. Finally, Piper Sandler lowered their target price on Cytek Biosciences from $20.00 to $17.00 in a report on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cytek Biosciences has an average rating of “Hold” and a consensus price target of $20.50.

Cytek Biosciences Company Profile (Get Rating)

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, which leverages full spectrum profiling technology to further broaden potential applications across cell analysis.

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