Barclays PLC Has $1.12 Million Holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Barclays PLC raised its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 333.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,359 shares of the company’s stock after buying an additional 154,915 shares during the quarter. Barclays PLC owned 0.16% of Cytek Biosciences worth $1,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Olympiad Research LP purchased a new stake in shares of Cytek Biosciences in the 3rd quarter valued at approximately $72,000. Everence Capital Management Inc. lifted its holdings in shares of Cytek Biosciences by 20.9% in the third 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 in the last quarter. Dark Forest Capital Management LP boosted its position in shares of Cytek Biosciences by 85.3% in the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company’s stock worth $118,000 after buying an additional 9,711 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Cytek Biosciences in the third quarter worth $128,000. Finally, XTX Topco Ltd purchased a new position in shares of Cytek Biosciences during the third quarter valued at $145,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Cytek Biosciences Stock Performance

Shares of CTKB opened at $7.21 on Tuesday. Cytek Biosciences, Inc. has a 52 week low of $4.66 and a 52 week high of $9.33. The company has a market capitalization of $928.73 million, a PE ratio of -90.11 and a beta of 1.44. The company’s 50 day moving average price is $6.58 and its 200 day moving average price is $5.88.

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

Cytek Biosciences announced that its Board of Directors has approved a stock buyback plan on Monday, December 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is 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.