Geode Capital Management LLC Buys 89,210 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Geode Capital Management LLC boosted its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,668,004 shares of the company’s stock after acquiring an additional 89,210 shares during the quarter. Geode Capital Management LLC owned 2.07% of Cytek Biosciences worth $14,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Olympiad Research LP bought a new position in Cytek Biosciences in the 3rd quarter worth $72,000. Everence Capital Management Inc. boosted its stake in Cytek Biosciences by 20.9% during the 3rd quarter. Everence Capital Management Inc. now owns 16,760 shares of the company’s stock valued at $93,000 after purchasing an additional 2,900 shares during the last quarter. Dark Forest Capital Management LP lifted its position in Cytek Biosciences by 85.3% during the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company’s stock valued at $118,000 after purchasing an additional 9,711 shares during the period. Intech Investment Management LLC bought a new position in shares of Cytek Biosciences in the 3rd quarter worth approximately $128,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Cytek Biosciences in the 2nd quarter worth approximately $140,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Cytek Biosciences Stock Performance

Cytek Biosciences stock opened at $6.39 on Monday. Cytek Biosciences, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $9.52. The company has a market capitalization of $823.10 million, a PE ratio of -79.87 and a beta of 1.46. The company has a 50 day moving average price of $6.18 and a 200-day moving average price of $5.80.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. The firm had revenue of $51.50 million during the quarter, compared to the consensus estimate of $50.63 million. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, analysts forecast that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their target price on Cytek Biosciences from $8.00 to $8.50 and gave the company an “overweight” rating in a research note on Monday, November 11th.

Cytek Biosciences Company 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.