Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Bought by State Street Corp

State Street Corp grew its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,167,501 shares of the company’s stock after purchasing an additional 194,369 shares during the quarter. State Street Corp owned approximately 3.24% of Cytek Biosciences worth $23,088,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CTKB. SlateStone Wealth LLC acquired a new stake in Cytek Biosciences during the second quarter valued at approximately $70,000. Olympiad Research LP bought a new stake in shares of Cytek Biosciences in the 3rd quarter valued at approximately $72,000. Everence Capital Management Inc. raised its position in shares of Cytek Biosciences by 20.9% during the 3rd quarter. Everence Capital Management Inc. now owns 16,760 shares of the company’s stock valued at $93,000 after acquiring an additional 2,900 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in Cytek Biosciences by 85.3% during the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company’s stock worth $118,000 after purchasing an additional 9,711 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Cytek Biosciences in the third quarter worth $128,000. Institutional investors own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

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

Cytek Biosciences Stock Up 2.1 %

Shares of CTKB stock opened at $6.32 on Monday. The company has a market cap of $814.09 million, a P/E ratio of -78.99 and a beta of 1.46. The business has a 50 day moving average of $6.06 and a two-hundred day moving average of $5.78. Cytek Biosciences, Inc. has a 52 week low of $4.66 and a 52 week high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $51.50 million for the quarter, compared to the consensus estimate of $50.63 million. Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. During the same quarter last year, the business posted ($0.03) EPS. Analysts expect that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Cytek Biosciences 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.