Vanguard Group Inc. Purchases 811,279 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Vanguard Group Inc. increased its position in Cytek Biosciences, Inc. (NASDAQ:CTKBFree Report) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,890,700 shares of the company’s stock after purchasing an additional 811,279 shares during the quarter. Vanguard Group Inc. owned approximately 8.77% of Cytek Biosciences worth $108,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund grew its stake in Cytek Biosciences by 25.6% in the fourth quarter. New York State Common Retirement Fund now owns 2,947,986 shares of the company’s stock worth $26,886,000 after purchasing an additional 599,971 shares in the last quarter. Wellington Management Group LLP grew its stake in Cytek Biosciences by 7.4% in the third quarter. Wellington Management Group LLP now owns 1,445,538 shares of the company’s stock worth $7,979,000 after purchasing an additional 99,170 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cytek Biosciences by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 880,038 shares of the company’s stock worth $8,026,000 after purchasing an additional 44,345 shares in the last quarter. Swiss National Bank grew its stake in Cytek Biosciences by 17.8% in the fourth quarter. Swiss National Bank now owns 228,500 shares of the company’s stock worth $2,084,000 after purchasing an additional 34,600 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Cytek Biosciences by 16.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 116,937 shares of the company’s stock worth $1,067,000 after purchasing an additional 16,804 shares in the last quarter. Institutional investors own 69.46% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their target price on Cytek Biosciences from $10.00 to $8.50 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.63.

Read Our Latest Research Report on Cytek Biosciences

Cytek Biosciences Trading Up 0.5 %

Shares of NASDAQ CTKB opened at $5.60 on Friday. The stock has a market capitalization of $735.11 million, a PE ratio of -62.22 and a beta of 1.33. The stock’s fifty day simple moving average is $5.89 and its two-hundred day simple moving average is $7.05. Cytek Biosciences, Inc. has a 12-month low of $3.80 and a 12-month high of $9.87.

Cytek Biosciences (NASDAQ:CTKBGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Cytek Biosciences had a negative return on equity of 1.78% and a negative net margin of 5.73%. The firm had revenue of $44.86 million during the quarter, compared to analyst estimates of $43.86 million. On average, equities analysts predict that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Ming Yan sold 20,000 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $5.87, for a total transaction of $117,400.00. Following the completion of the sale, the chief technology officer now owns 5,988,502 shares in the company, valued at approximately $35,152,506.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.

Cytek Biosciences Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cytek Biosciences (NASDAQ:CTKB)

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