AQR Capital Management LLC Acquires 40,240 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

AQR Capital Management LLC boosted its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 202.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,147 shares of the company’s stock after purchasing an additional 40,240 shares during the period. AQR Capital Management LLC’s holdings in Cytek Biosciences were worth $336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SlateStone Wealth LLC bought a new stake in Cytek Biosciences during the second quarter worth $70,000. Quadrature Capital Ltd bought a new position in shares of Cytek Biosciences in the 1st quarter valued at $102,000. Allspring Global Investments Holdings LLC bought a new position in shares of Cytek Biosciences in the 2nd quarter valued at $140,000. 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 valued at $161,000 after acquiring an additional 1,687 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Cytek Biosciences in the 2nd quarter valued at $180,000. 69.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price target on 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 Stock Up 0.4 %

Shares of NASDAQ:CTKB opened at $5.36 on Thursday. The firm has a market cap of $703.62 million, a P/E ratio of -59.56 and a beta of 1.30. Cytek Biosciences, Inc. has a 12-month low of $3.80 and a 12-month high of $9.87. The business has a fifty day simple moving average of $5.31 and a 200 day simple moving average of $5.78.

Cytek Biosciences (NASDAQ:CTKB) last announced its earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The company had revenue of $46.62 million for the quarter, compared to the consensus estimate of $49.02 million. Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. During the same period in the prior year, the business earned ($0.02) earnings per share. As a group, equities research analysts expect that Cytek Biosciences, Inc. will post -0.11 EPS for the current year.

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.