Cubist Systematic Strategies LLC Purchases Shares of 116,624 Cytek Biosciences, Inc. (NASDAQ:CTKB)

Cubist Systematic Strategies LLC bought a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 116,624 shares of the company’s stock, valued at approximately $757,000. Cubist Systematic Strategies LLC owned about 0.09% of Cytek Biosciences at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CTKB. Sterling Capital Management LLC boosted its holdings in Cytek Biosciences by 799.8% during the fourth 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 during the last quarter. Aquatic Capital Management LLC acquired a new position in Cytek Biosciences during the fourth quarter worth $25,000. GAMMA Investing LLC boosted its holdings in Cytek Biosciences by 280.3% during the fourth quarter. GAMMA Investing LLC now owns 4,932 shares of the company’s stock worth $32,000 after purchasing an additional 3,635 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Cytek Biosciences by 111.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company’s stock worth $57,000 after purchasing an additional 4,665 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Cytek Biosciences during the fourth quarter worth $71,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

CTKB has been the subject of several recent research reports. TD Cowen cut shares of Cytek Biosciences from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a report on Friday, May 9th. Piper Sandler cut their price target on shares of Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. The Goldman Sachs Group cut their price target on shares of Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating for the company in a research note on Monday. Finally, Stephens reiterated an “overweight” rating and issued a $6.00 price target on shares of Cytek Biosciences in a research note on Wednesday, March 19th.

Cytek Biosciences Price Performance

Shares of CTKB stock opened at $2.73 on Thursday. The stock has a market cap of $348.35 million, a P/E ratio of -34.12 and a beta of 1.42. The company has a fifty day moving average price of $3.80 and a two-hundred day moving average price of $5.21. Cytek Biosciences, Inc. has a one year low of $2.73 and a one year high of $7.63.

Cytek Biosciences (NASDAQ:CTKB) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The company had revenue of $41.46 million during the quarter, compared to the consensus estimate 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 anticipate that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal 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.