Maryland State Retirement & Pension System Cuts Stock Holdings in Cytek Biosciences, Inc. $CTKB

Maryland State Retirement & Pension System reduced its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,322 shares of the company’s stock after selling 4,648 shares during the period. Maryland State Retirement & Pension System’s holdings in Cytek Biosciences were worth $126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC boosted its holdings 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 buying an additional 3,455 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Cytek Biosciences in the fourth quarter valued at approximately $25,000. US Bancorp DE increased its position in shares of Cytek Biosciences by 9,698.2% during the first quarter. US Bancorp DE now owns 10,680 shares of the company’s stock worth $43,000 after purchasing an additional 10,571 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Cytek Biosciences during the first quarter worth approximately $63,000. Finally, Corton Capital Inc. acquired a new position in Cytek Biosciences in the 1st quarter valued at $65,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO William D. Mccombe bought 35,000 shares of the stock in a transaction on Monday, June 2nd. The stock was bought at an average price of $2.78 per share, with a total value of $97,300.00. Following the completion of the purchase, the chief financial officer directly owned 55,746 shares in the company, valued at $154,973.88. This represents a 168.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.33% of the stock is owned by insiders.

Cytek Biosciences Stock Down 0.5%

Shares of Cytek Biosciences stock opened at $4.04 on Wednesday. The firm has a market cap of $513.97 million, a PE ratio of -80.80 and a beta of 1.34. Cytek Biosciences, Inc. has a 52 week low of $2.37 and a 52 week high of $7.63. The business’s fifty day simple moving average is $3.54 and its 200-day simple moving average is $3.80.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating on the stock in a research note on Monday, May 12th. Morgan Stanley lowered their price target on shares of Cytek Biosciences from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 28th. Finally, TD Cowen cut shares of Cytek Biosciences from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.60.

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.