Fmr LLC Purchases 30,386 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Fmr LLC lifted its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,076 shares of the company’s stock after acquiring an additional 30,386 shares during the quarter. Fmr LLC owned approximately 0.52% of Cytek Biosciences worth $3,696,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Cytek Biosciences by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,665 shares of the company’s stock valued at $233,000 after purchasing an additional 3,987 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Cytek Biosciences during the second quarter valued at about $180,000. Bank of New York Mellon Corp lifted its holdings in Cytek Biosciences by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 804,261 shares of the company’s stock valued at $4,488,000 after purchasing an additional 29,579 shares during the last quarter. SlateStone Wealth LLC purchased a new stake in Cytek Biosciences during the second quarter valued at about $70,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Cytek Biosciences during the second quarter valued at about $140,000. Institutional investors own 69.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cytek Biosciences Stock Performance

Shares of Cytek Biosciences stock opened at $6.21 on Friday. Cytek Biosciences, Inc. has a 52-week low of $4.66 and a 52-week high of $9.87. The stock has a market capitalization of $799.91 million, a price-to-earnings ratio of -77.62 and a beta of 1.46. The company’s 50 day moving average price is $5.92 and its 200-day moving average price is $5.75.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $51.50 million during the quarter, compared to analyst estimates of $50.63 million. Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, equities research analysts forecast that Cytek Biosciences, Inc. will post -0.06 earnings per share 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.