Point72 Asset Management L.P. Takes $2.53 Million Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Point72 Asset Management L.P. bought a new stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 389,359 shares of the company’s stock, valued at approximately $2,527,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in shares of Cytek Biosciences by 44.8% during the fourth quarter. ProShare Advisors LLC now owns 36,241 shares of the company’s stock valued at $235,000 after purchasing an additional 11,213 shares during the period. Quantinno Capital Management LP bought a new stake in Cytek Biosciences in the 4th quarter valued at about $92,000. Millennium Management LLC raised its stake in Cytek Biosciences by 321.8% during the 4th quarter. Millennium Management LLC now owns 803,923 shares of the company’s stock worth $5,217,000 after buying an additional 613,314 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cytek Biosciences by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,074 shares of the company’s stock worth $448,000 after acquiring an additional 2,373 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Cytek Biosciences in the fourth quarter valued at approximately $122,000. 69.46% of the stock is owned by institutional investors.

Cytek Biosciences Stock Down 1.1%

CTKB stock opened at $2.66 on Wednesday. The firm has a market capitalization of $336.91 million, a PE ratio of -33.25 and a beta of 1.42. Cytek Biosciences, Inc. has a twelve month low of $2.51 and a twelve month high of $7.63. The stock’s 50 day moving average is $3.68 and its 200-day moving average is $5.15.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The company had revenue of $41.46 million during the quarter, compared to analysts’ expectations of $43.18 million. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. On average, equities research analysts anticipate that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $6.00 target price on shares of Cytek Biosciences in a research report on Wednesday, March 19th. TD Cowen downgraded shares of Cytek Biosciences from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Friday, May 9th. The Goldman Sachs Group dropped their price objective 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. Finally, Piper Sandler decreased their target price on shares of Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th.

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.