Charles Schwab Investment Management Inc. Acquires 113,127 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Charles Schwab Investment Management Inc. boosted its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 12.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,030,962 shares of the company’s stock after buying an additional 113,127 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.78% of Cytek Biosciences worth $5,712,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CTKB. SlateStone Wealth LLC bought a new position in Cytek Biosciences during the 2nd quarter worth approximately $70,000. Olympiad Research LP bought a new stake in Cytek Biosciences in the third quarter valued at $72,000. Everence Capital Management Inc. raised its holdings in shares of Cytek Biosciences by 20.9% during the third quarter. Everence Capital Management Inc. now owns 16,760 shares of the company’s stock valued at $93,000 after purchasing an additional 2,900 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Cytek Biosciences by 85.3% during the 2nd quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company’s stock worth $118,000 after purchasing an additional 9,711 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Cytek Biosciences in the 3rd quarter valued at about $128,000. 69.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler upped their target price on Cytek Biosciences from $8.00 to $8.50 and gave the stock an “overweight” rating in a research report on Monday, November 11th.

Cytek Biosciences Stock Performance

Shares of Cytek Biosciences stock opened at $6.47 on Friday. The stock has a market capitalization of $833.41 million, a P/E ratio of -80.88 and a beta of 1.45. The stock’s 50-day simple moving average is $5.90 and its 200 day simple moving average is $5.75. Cytek Biosciences, Inc. has a 52-week low of $4.66 and a 52-week high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. The company had revenue of $51.50 million during the quarter, compared to the consensus estimate of $50.63 million. During the same period last year, the firm earned ($0.03) EPS. Equities research analysts forecast that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

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.