Renaissance Technologies LLC Makes New $1.31 Million Investment in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Renaissance Technologies LLC acquired a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 233,900 shares of the company’s stock, valued at approximately $1,305,000. Renaissance Technologies LLC owned about 0.18% of Cytek Biosciences as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Cytek Biosciences by 16.8% in the 4th 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 acquiring an additional 16,804 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cytek Biosciences by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 11,890,700 shares of the company’s stock worth $108,443,000 after purchasing an additional 811,279 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of Cytek Biosciences during the 1st quarter worth approximately $171,000. Texas Permanent School Fund Corp raised its stake in shares of Cytek Biosciences by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 86,601 shares of the company’s stock worth $581,000 after purchasing an additional 1,702 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Cytek Biosciences by 7.6% in the 1st quarter. ProShare Advisors LLC now owns 23,941 shares of the company’s stock valued at $161,000 after buying an additional 1,687 shares during the last quarter. Institutional investors own 69.46% of the company’s stock.

Cytek Biosciences Stock Down 1.6 %

Shares of NASDAQ CTKB opened at $5.06 on Friday. The business’s 50 day moving average price is $5.46 and its two-hundred day moving average price is $5.86. The company has a market cap of $664.24 million, a PE ratio of -56.22 and a beta of 1.30. Cytek Biosciences, Inc. has a twelve month low of $3.80 and a twelve month high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last posted its earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $49.02 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, research analysts anticipate that Cytek Biosciences, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Cytek Biosciences

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.