Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 14.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,875 shares of the company’s stock after purchasing an additional 4,161 shares during the period. Victory Capital Management Inc.’s holdings in Cytek Biosciences were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Brown Capital Management LLC lifted its stake in shares of Cytek Biosciences by 68.4% in the 1st quarter. Brown Capital Management LLC now owns 8,601,423 shares of the company’s stock valued at $79,047,000 after purchasing an additional 3,493,545 shares during the period. BlackRock Inc. raised its position in Cytek Biosciences by 10.9% during the third quarter. BlackRock Inc. now owns 7,917,642 shares of the company’s stock worth $116,549,000 after acquiring an additional 780,250 shares during the period. Vanguard Group Inc. raised its position in Cytek Biosciences by 22.5% during the third quarter. Vanguard Group Inc. now owns 7,687,505 shares of the company’s stock worth $113,161,000 after acquiring an additional 1,413,703 shares during the period. State Street Corp raised its position in Cytek Biosciences by 1.0% during the first quarter. State Street Corp now owns 2,059,272 shares of the company’s stock worth $18,925,000 after acquiring an additional 20,927 shares during the period. Finally, Geode Capital Management LLC raised its position in Cytek Biosciences by 4.7% during the first quarter. Geode Capital Management LLC now owns 1,869,470 shares of the company’s stock worth $17,180,000 after acquiring an additional 83,335 shares during the period. 56.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Wenbin Jiang sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $9.04, for a total transaction of $180,800.00. Following the completion of the sale, the chief executive officer now directly owns 7,613,467 shares in the company, valued at $68,825,741.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 129,000 shares of company stock worth $867,450 over the last three months. Insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTKB. Piper Sandler reduced their price objective on shares of Cytek Biosciences from $15.00 to $10.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Raymond James began coverage on shares of Cytek Biosciences in a research report on Tuesday, July 18th. They set a “market perform” rating for the company. Finally, Morgan Stanley reduced their price objective on shares of Cytek Biosciences from $13.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 24th.

Cytek Biosciences Stock Up 2.3 %

Shares of NASDAQ CTKB opened at $4.39 on Friday. The firm has a 50-day simple moving average of $5.86 and a 200-day simple moving average of $7.77. The stock has a market capitalization of $598.62 million, a price-to-earnings ratio of -109.75 and a beta of 0.65. Cytek Biosciences, Inc. has a 52 week low of $4.06 and a 52 week high of $15.17.

Cytek Biosciences (NASDAQ:CTKB) last issued its earnings results on Tuesday, August 8th. The company reported ($0.02) EPS for the quarter. The business had revenue of $49.69 million during the quarter, compared to analyst estimates of $46.52 million. Cytek Biosciences had a negative net margin of 3.31% and a negative return on equity of 0.37%. As a group, equities research analysts expect that Cytek Biosciences, Inc. will post -0.09 EPS for the current year.

Cytek Biosciences Company Profile

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.