GSA Capital Partners LLP purchased a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 167,593 shares of the company’s stock, valued at approximately $742,000.
Several other hedge funds have also recently bought and sold shares of CTKB. SBI Securities Co. Ltd. lifted its holdings in Cytek Biosciences by 99.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,010 shares of the company’s stock worth $25,000 after purchasing an additional 2,500 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Cytek Biosciences by 86.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,144 shares of the company’s stock valued at $26,000 after buying an additional 2,388 shares in the last quarter. Federated Hermes Inc. grew its holdings in Cytek Biosciences by 150.9% in the 2nd quarter. Federated Hermes Inc. now owns 7,221 shares of the company’s stock valued at $25,000 after buying an additional 4,343 shares in the last quarter. M&T Bank Corp bought a new position in Cytek Biosciences during the 4th quarter worth $52,000. Finally, CIBC Bancorp USA Inc. bought a new position in Cytek Biosciences during the 3rd quarter worth $43,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on CTKB shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytek Biosciences in a report on Wednesday, June 24th. Morgan Stanley set a $5.00 price target on shares of Cytek Biosciences in a research note on Friday, August 7th. Finally, Stephens lowered their price target on shares of Cytek Biosciences from $5.50 to $4.75 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.56.
Cytek Biosciences Price Performance
NASDAQ CTKB opened at $4.70 on Thursday. Cytek Biosciences, Inc. has a fifty-two week low of $3.28 and a fifty-two week high of $6.18. The stock has a market capitalization of $610.91 million, a PE ratio of -7.58 and a beta of 1.17. The business has a fifty day moving average price of $4.41 and a two-hundred day moving average price of $4.37.
Cytek Biosciences (NASDAQ:CTKB – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). The firm had revenue of $48.14 million for the quarter, compared to analysts’ expectations of $47.31 million. Cytek Biosciences had a negative return on equity of 12.40% and a negative net margin of 38.98%. As a group, sell-side analysts expect that Cytek Biosciences, Inc. will post -0.3 earnings per share for the current year.
About Cytek Biosciences
Cytek Biosciences is a biotechnology company specializing in innovative cell analysis solutions. The firm develops and commercializes advanced spectral flow cytometry instruments and associated reagents designed to enable high-parameter single-cell analysis. Its technology platform offers researchers and clinicians enhanced sensitivity, resolution and flexibility compared to traditional flow cytometry methods.
The company’s core product portfolio includes the Aurora and Northern Lights spectral cytometry systems, which support simultaneous detection of up to 64 fluorescence parameters.
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