Bank of Montreal Can Boosts Stock Position in Cytek Biosciences, Inc. $CTKB

Bank of Montreal Can raised its holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 110.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,072 shares of the company’s stock after buying an additional 17,379 shares during the period. Bank of Montreal Can’s holdings in Cytek Biosciences were worth $112,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CTKB. Brooklyn Investment Group increased its holdings in shares of Cytek Biosciences by 992,200.0% in the 1st quarter. Brooklyn Investment Group now owns 9,923 shares of the company’s stock valued at $40,000 after acquiring an additional 9,922 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Cytek Biosciences in the second quarter valued at approximately $42,000. US Bancorp DE increased its stake in Cytek Biosciences by 9,698.2% in the first quarter. US Bancorp DE now owns 10,680 shares of the company’s stock valued at $43,000 after purchasing an additional 10,571 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Cytek Biosciences during the second quarter worth approximately $48,000. Finally, Corton Capital Inc. purchased a new stake in shares of Cytek Biosciences during the 1st quarter worth approximately $65,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTKB has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Cytek Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cytek Biosciences in a report on Wednesday, October 8th. Finally, Piper Sandler reduced their target price on Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Cytek Biosciences presently has a consensus rating of “Hold” and an average target price of $5.50.

Cytek Biosciences Trading Up 12.9%

NASDAQ:CTKB opened at $5.88 on Friday. Cytek Biosciences, Inc. has a 12-month low of $2.37 and a 12-month high of $7.30. The stock’s 50 day simple moving average is $4.17 and its 200-day simple moving average is $3.71. The firm has a market cap of $751.82 million, a P/E ratio of -58.79 and a beta of 1.33.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings data on Tuesday, November 28th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $40.48 million for the quarter. Cytek Biosciences had a negative net margin of 6.51% and a negative return on equity of 3.35%. Research analysts forecast that Cytek Biosciences, Inc. will post -0.06 EPS 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.