Hhlr Advisors LTD. bought a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 6,657,030 shares of the company’s stock, valued at approximately $29,491,000. Cytek Biosciences comprises 3.5% of Hhlr Advisors LTD.’s portfolio, making the stock its 8th largest position. Hhlr Advisors LTD. owned 0.05% of Cytek Biosciences as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTKB. Simcoe Capital LLC purchased a new stake in Cytek Biosciences during the 4th quarter valued at about $1,507,000. GSA Capital Partners LLP acquired a new stake in shares of Cytek Biosciences during the second quarter worth about $742,000. Pallas Capital Advisors LLC purchased a new stake in Cytek Biosciences in the second quarter valued at approximately $50,000. Bank of America Corp DE increased its holdings in Cytek Biosciences by 17.9% in the 1st quarter. Bank of America Corp DE now owns 1,009,054 shares of the company’s stock worth $4,410,000 after buying an additional 152,893 shares during the period. Finally, Quantinno Capital Management LP raised its position in Cytek Biosciences by 72.7% during the 1st quarter. Quantinno Capital Management LP now owns 51,212 shares of the company’s stock worth $224,000 after buying an additional 21,564 shares during the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.
Cytek Biosciences Stock Down 0.2%
Cytek Biosciences stock opened at $4.57 on Thursday. The firm has a market cap of $594.01 million, a price-to-earnings ratio of -7.37 and a beta of 1.17. Cytek Biosciences, Inc. has a 52 week low of $3.28 and a 52 week high of $6.18. The business’s 50-day moving average price is $4.47 and its 200 day moving average price is $4.36.
Analyst Upgrades and Downgrades
Several analysts have commented on CTKB shares. Stephens decreased their price objective on shares of Cytek Biosciences from $5.50 to $4.75 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley set a $5.00 target price on shares of Cytek Biosciences in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cytek Biosciences in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.56.
Read Our Latest Research Report on Cytek Biosciences
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.
Featured Stories
- Five stocks we like better than Cytek Biosciences
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding CTKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cytek Biosciences, Inc. (NASDAQ:CTKB – Free Report).
Receive News & Ratings for Cytek Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytek Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.
