Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Free Report)’s stock price traded up 3.6% during trading on Wednesday . The company traded as high as $5.23 and last traded at $5.22. 58,588 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 683,384 shares. The stock had previously closed at $5.04.
Analyst Upgrades and Downgrades
Separately, Piper Sandler reduced their price target 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.
Get Our Latest Stock Analysis on CTKB
Cytek Biosciences Price Performance
Cytek Biosciences (NASDAQ:CTKB – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Cytek Biosciences had a negative net margin of 8.88% and a negative return on equity of 3.75%. The business had revenue of $46.62 million for the quarter, compared to analyst estimates of $49.02 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Equities research analysts predict that Cytek Biosciences, Inc. will post -0.11 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in CTKB. Vanguard Group Inc. raised its position in Cytek Biosciences by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,890,700 shares of the company’s stock worth $108,443,000 after acquiring an additional 811,279 shares during the period. Renaissance Technologies LLC purchased a new position in Cytek Biosciences during the second quarter valued at approximately $1,305,000. SlateStone Wealth LLC purchased a new position in Cytek Biosciences during the second quarter valued at approximately $70,000. Squarepoint Ops LLC grew its stake in Cytek Biosciences by 1,013.8% during the second quarter. Squarepoint Ops LLC now owns 187,361 shares of the company’s stock valued at $1,045,000 after acquiring an additional 170,539 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in Cytek Biosciences by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 86,601 shares of the company’s stock valued at $581,000 after acquiring an additional 1,702 shares in the last quarter. 69.46% of the stock is owned by institutional investors.
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.
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