Millennium Management LLC Raises Stake in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Millennium Management LLC boosted its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 3,452.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 946,490 shares of the company’s stock after purchasing an additional 919,845 shares during the period. Millennium Management LLC owned approximately 0.72% of Cytek Biosciences worth $5,281,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTKB. Teachers Retirement System of The State of Kentucky lifted its stake 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 worth $1,067,000 after acquiring an additional 16,804 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cytek Biosciences by 7.3% in the 4th 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. Cornerstone Investment Partners LLC acquired a new stake in shares of Cytek Biosciences in the 1st quarter worth $171,000. Texas Permanent School Fund Corp lifted its stake in shares of Cytek Biosciences by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 86,601 shares of the company’s stock worth $581,000 after acquiring an additional 1,702 shares during the period. Finally, ProShare Advisors LLC lifted its stake 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 worth $161,000 after acquiring an additional 1,687 shares during the period. 69.46% of the stock is owned by hedge funds and other institutional investors.

Cytek Biosciences Stock Up 2.9 %

Shares of NASDAQ CTKB opened at $5.01 on Friday. Cytek Biosciences, Inc. has a 52 week low of $3.80 and a 52 week high of $9.87. The firm has a 50-day moving average price of $5.32 and a 200 day moving average price of $5.81. The stock has a market capitalization of $657.68 million, a price-to-earnings ratio of -55.67 and a beta of 1.30.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 company had revenue of $46.62 million during the quarter, compared to analyst estimates of $49.02 million. During the same quarter last year, the business earned ($0.02) EPS. Equities research analysts expect that Cytek Biosciences, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.