116,624 Shares in Cytek Biosciences, Inc. (NASDAQ:CTKB) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) during the fourth quarter, HoldingsChannel reports. The fund purchased 116,624 shares of the company’s stock, valued at approximately $757,000.

A number of other hedge funds have also bought and sold shares of CTKB. Sterling Capital Management LLC increased its position in Cytek Biosciences by 799.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,887 shares of the company’s stock worth $25,000 after acquiring an additional 3,455 shares during the period. Aquatic Capital Management LLC bought a new position in Cytek Biosciences during the fourth quarter worth about $25,000. GAMMA Investing LLC increased its position in Cytek Biosciences by 280.3% during the fourth quarter. GAMMA Investing LLC now owns 4,932 shares of the company’s stock worth $32,000 after acquiring an additional 3,635 shares during the period. PNC Financial Services Group Inc. increased its position in Cytek Biosciences by 111.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company’s stock worth $57,000 after acquiring an additional 4,665 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Cytek Biosciences during the fourth quarter worth about $71,000. 69.46% of the stock is owned by institutional investors.

Cytek Biosciences Stock Down 8.4%

CTKB stock opened at $2.73 on Thursday. Cytek Biosciences, Inc. has a 12 month low of $2.73 and a 12 month high of $7.63. The firm has a market cap of $348.35 million, a P/E ratio of -34.12 and a beta of 1.42. The company’s 50-day moving average price is $3.80 and its two-hundred day moving average price is $5.21.

Cytek Biosciences (NASDAQ:CTKB) last released its earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. The firm had revenue of $41.46 million during the quarter, compared to the consensus estimate of $43.18 million. Equities analysts predict that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating on the stock in a research report on Monday. TD Cowen lowered shares of Cytek Biosciences from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a report on Friday, May 9th. Stephens reissued an “overweight” rating and issued a $6.00 target price on shares of Cytek Biosciences in a report on Wednesday, March 19th. Finally, Piper Sandler decreased their target price on shares of Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th.

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.