Swiss National Bank Trims Stock Position in Cytek Biosciences, Inc. $CTKB

Swiss National Bank lessened its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,100 shares of the company’s stock after selling 6,700 shares during the period. Swiss National Bank owned approximately 0.17% of Cytek Biosciences worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CTKB. Wells Fargo & Company MN raised its holdings in shares of Cytek Biosciences by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 71,240 shares of the company’s stock worth $462,000 after purchasing an additional 15,516 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cytek Biosciences during the fourth quarter worth $765,000. Barclays PLC raised its holdings in shares of Cytek Biosciences by 7.0% during the fourth quarter. Barclays PLC now owns 215,424 shares of the company’s stock worth $1,397,000 after purchasing an additional 14,065 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cytek Biosciences by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,830,432 shares of the company’s stock worth $11,880,000 after purchasing an additional 262,607 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Cytek Biosciences by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 74,398 shares of the company’s stock valued at $483,000 after buying an additional 4,158 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating for the company in a report on Monday, May 12th. 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 report on Friday, May 9th. Finally, Morgan Stanley cut their price objective on shares of Cytek Biosciences from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cytek Biosciences presently has a consensus rating of “Hold” and a consensus price target of $5.60.

Insiders Place Their Bets

In other Cytek Biosciences news, CFO William D. Mccombe purchased 35,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $2.78 per share, for a total transaction of $97,300.00. Following the completion of the transaction, the chief financial officer owned 55,746 shares of the company’s stock, valued at $154,973.88. The trade was a 168.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 10.33% of the company’s stock.

Cytek Biosciences Stock Up 1.2%

Shares of NASDAQ CTKB opened at $4.16 on Wednesday. The company’s 50-day simple moving average is $3.62 and its 200-day simple moving average is $3.75. Cytek Biosciences, Inc. has a 52-week low of $2.37 and a 52-week high of $7.63. The firm has a market cap of $529.24 million, a price-to-earnings ratio of -83.20 and a beta of 1.34.

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.