Jane Street Group LLC Has $756,000 Holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Jane Street Group LLC trimmed its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 29.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,402 shares of the company’s stock after selling 55,914 shares during the quarter. Jane Street Group LLC owned approximately 0.11% of Cytek Biosciences worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTKB. Olympiad Research LP bought a new stake in Cytek Biosciences during the 3rd quarter worth approximately $72,000. Everence Capital Management Inc. boosted its stake in Cytek Biosciences by 20.9% in the third quarter. Everence Capital Management Inc. now owns 16,760 shares of the company’s stock worth $93,000 after purchasing an additional 2,900 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Cytek Biosciences by 85.3% during the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company’s stock worth $118,000 after purchasing an additional 9,711 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Cytek Biosciences in the third quarter valued at $128,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Cytek Biosciences in the second quarter valued at about $140,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler increased their price objective on shares of Cytek Biosciences from $8.00 to $8.50 and gave the stock an “overweight” rating in a report on Monday, November 11th.

Cytek Biosciences Stock Performance

NASDAQ:CTKB opened at $6.57 on Friday. The stock’s fifty day moving average price is $6.30 and its two-hundred day moving average price is $5.81. The company has a market cap of $846.29 million, a price-to-earnings ratio of -82.11 and a beta of 1.46. Cytek Biosciences, Inc. has a 52-week low of $4.66 and a 52-week high of $9.33.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $51.50 million for the quarter, compared to analysts’ expectations of $50.63 million. Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. During the same quarter last year, the business earned ($0.03) earnings per share. On average, equities analysts predict that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Cytek Biosciences announced that its board has approved a share repurchase program on Monday, December 30th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.