Texas Permanent School Fund Corp Sells 12,539 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Texas Permanent School Fund Corp lessened its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 14.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,062 shares of the company’s stock after selling 12,539 shares during the period. Texas Permanent School Fund Corp owned about 0.06% of Cytek Biosciences worth $413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swiss National Bank raised its holdings in shares of Cytek Biosciences by 17.8% during the fourth quarter. Swiss National Bank now owns 228,500 shares of the company’s stock valued at $2,084,000 after purchasing an additional 34,600 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cytek Biosciences by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 880,038 shares of the company’s stock valued at $8,026,000 after purchasing an additional 44,345 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Cytek Biosciences by 16.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 116,937 shares of the company’s stock valued at $1,067,000 after purchasing an additional 16,804 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Cytek Biosciences by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 11,890,700 shares of the company’s stock valued at $108,443,000 after purchasing an additional 811,279 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Cytek Biosciences during the first quarter valued at approximately $171,000. Institutional investors own 69.46% of the company’s stock.

Cytek Biosciences Trading Down 3.8 %

Shares of CTKB stock opened at $5.09 on Friday. Cytek Biosciences, Inc. has a 12 month low of $3.80 and a 12 month high of $9.87. The stock has a market cap of $668.18 million, a P/E ratio of -56.56 and a beta of 1.31. The company has a 50 day simple moving average of $5.70 and a two-hundred day simple moving average of $5.99.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. The business had revenue of $46.62 million during the quarter, compared to the consensus estimate of $49.02 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. As a group, equities analysts forecast that Cytek Biosciences, Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price objective on shares of Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th.

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.