Federated Hermes Inc. Invests $36,000 in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Federated Hermes Inc. acquired a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,996 shares of the company’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CTKB. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cytek Biosciences by 130.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,701 shares of the company’s stock valued at $189,000 after buying an additional 11,734 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Cytek Biosciences in the 4th quarter valued at $451,000. Arizona State Retirement System grew its holdings in shares of Cytek Biosciences by 29.0% during the fourth quarter. Arizona State Retirement System now owns 32,401 shares of the company’s stock worth $295,000 after purchasing an additional 7,293 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Cytek Biosciences by 4.3% in the third quarter. Vanguard Group Inc. now owns 11,079,421 shares of the company’s stock valued at $61,158,000 after buying an additional 461,142 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Cytek Biosciences by 18.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 100,133 shares of the company’s stock worth $553,000 after acquiring an additional 15,425 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Insider Buying and Selling at Cytek Biosciences

In other news, CTO Ming Yan sold 20,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $6.77, for a total value of $135,400.00. Following the completion of the transaction, the chief technology officer now owns 6,030,402 shares of the company’s stock, valued at approximately $40,825,821.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 41,900 shares of company stock valued at $266,100. Corporate insiders own 15.90% of the company’s stock.

Cytek Biosciences Stock Down 0.6 %

CTKB stock opened at $6.38 on Wednesday. Cytek Biosciences, Inc. has a twelve month low of $3.80 and a twelve month high of $11.88. The business’s fifty day moving average is $6.68 and its 200-day moving average is $7.15. The company has a market cap of $837.44 million, a P/E ratio of -70.88 and a beta of 1.38.

Cytek Biosciences (NASDAQ:CTKB) last posted its earnings results on Wednesday, March 13th. The company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $58.23 million during the quarter, compared to analyst estimates of $56.66 million. Cytek Biosciences had a negative return on equity of 1.40% and a negative net margin of 6.29%. Research analysts anticipate that Cytek Biosciences, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

CTKB has been the topic of several research analyst reports. Piper Sandler decreased their price target on shares of Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 6th. The Goldman Sachs Group boosted their target price on Cytek Biosciences from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

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.