US Bancorp DE Raises Stock Holdings in Cytek Biosciences, Inc. $CTKB

US Bancorp DE boosted its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 9,698.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,680 shares of the company’s stock after buying an additional 10,571 shares during the period. US Bancorp DE’s holdings in Cytek Biosciences were worth $43,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC raised its holdings in Cytek Biosciences by 799.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,887 shares of the company’s stock valued at $25,000 after buying an additional 3,455 shares during the period. Aquatic Capital Management LLC bought a new position in Cytek Biosciences in the 4th quarter valued at $25,000. Wealth Enhancement Advisory Services LLC bought a new position in Cytek Biosciences in the 1st quarter valued at $63,000. Corton Capital Inc. bought a new position in Cytek Biosciences in the 1st quarter valued at $65,000. Finally, CWM LLC grew its position in Cytek Biosciences by 1,637.7% in the 1st quarter. CWM LLC now owns 18,020 shares of the company’s stock valued at $72,000 after acquiring an additional 16,983 shares during the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Cytek Biosciences Price Performance

CTKB opened at $4.04 on Wednesday. The business’s 50-day moving average is $3.54 and its two-hundred day moving average is $3.80. Cytek Biosciences, Inc. has a 1 year low of $2.37 and a 1 year high of $7.63. The firm has a market capitalization of $513.97 million, a PE ratio of -80.80 and a beta of 1.34.

Wall Street Analyst Weigh In

CTKB has been the topic of several research analyst reports. The Goldman Sachs Group cut their price objective on Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating on the stock in a research report on Monday, May 12th. Morgan Stanley cut their price objective on 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 downgraded Cytek Biosciences from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research report 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.60.

Insider Transactions at Cytek Biosciences

In related news, CFO William D. Mccombe bought 35,000 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were bought at an average price of $2.78 per share, for a total transaction of $97,300.00. Following the completion of the purchase, the chief financial officer directly owned 55,746 shares of the company’s stock, valued at approximately $154,973.88. This trade represents a 168.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.33% of the stock is owned by company insiders.

Cytek Biosciences Company 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.