Cytek Biosciences, Inc. (NASDAQ:CTKB) Stake Raised by Northern Trust Corp

Northern Trust Corp boosted its holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,188,331 shares of the company’s stock after acquiring an additional 121,268 shares during the quarter. Northern Trust Corp owned about 0.92% of Cytek Biosciences worth $7,712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. State of Tennessee Department of Treasury increased its stake in Cytek Biosciences by 4.4% in the 4th quarter. State of Tennessee Department of Treasury now owns 70,502 shares of the company’s stock worth $458,000 after purchasing an additional 3,003 shares in the last quarter. Sterling Capital Management LLC increased its stake in Cytek Biosciences by 799.8% in the 4th quarter. Sterling Capital Management LLC now owns 3,887 shares of the company’s stock worth $25,000 after purchasing an additional 3,455 shares in the last quarter. Principal Financial Group Inc. increased its stake in Cytek Biosciences by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 506,925 shares of the company’s stock worth $3,290,000 after purchasing an additional 3,753 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Cytek Biosciences in the 4th quarter worth about $25,000. Finally, MetLife Investment Management LLC increased its stake in Cytek Biosciences by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 74,398 shares of the company’s stock worth $483,000 after purchasing an additional 4,158 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating on the stock in a research note on Monday, May 12th. Piper Sandler lowered their target price on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 4th. Stephens reaffirmed an “overweight” rating and set a $6.00 target price on shares of Cytek Biosciences in a research note on Wednesday, March 19th. Finally, TD Cowen cut Cytek Biosciences from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research note on Friday, May 9th.

Cytek Biosciences Price Performance

Shares of Cytek Biosciences stock opened at $2.67 on Monday. The firm has a market cap of $338.18 million, a price-to-earnings ratio of -33.37 and a beta of 1.42. Cytek Biosciences, Inc. has a 52-week low of $2.52 and a 52-week high of $7.63. The stock has a 50-day simple moving average of $3.73 and a 200-day simple moving average of $5.19.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $41.46 million for the quarter, compared to analyst estimates of $43.18 million. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. As a group, equities research analysts predict that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

Cytek Biosciences 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 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.