Principal Financial Group Inc. Purchases 23,028 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Principal Financial Group Inc. raised its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 503,172 shares of the company’s stock after acquiring an additional 23,028 shares during the quarter. Principal Financial Group Inc. owned approximately 0.38% of Cytek Biosciences worth $2,788,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CTKB. ProShare Advisors LLC raised its stake in Cytek Biosciences by 7.6% during the 1st quarter. ProShare Advisors LLC now owns 23,941 shares of the company’s stock valued at $161,000 after purchasing an additional 1,687 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Cytek Biosciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,012,805 shares of the company’s stock worth $80,606,000 after buying an additional 122,105 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Cytek Biosciences during the first quarter worth $102,000. Price T Rowe Associates Inc. MD grew its stake in Cytek Biosciences by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,665 shares of the company’s stock valued at $233,000 after acquiring an additional 3,987 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Cytek Biosciences in the 2nd quarter valued at $180,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Cytek Biosciences Price Performance

Shares of CTKB opened at $6.55 on Friday. The business’s 50 day simple moving average is $5.52 and its 200-day simple moving average is $5.71. Cytek Biosciences, Inc. has a 1 year low of $4.66 and a 1 year high of $9.87. The stock has a market capitalization of $843.71 million, a price-to-earnings ratio of -81.86 and a beta of 1.32.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.01 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $50.63 million. During the same quarter last year, the business earned ($0.03) earnings per share. On average, sell-side analysts expect that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.