Point72 Asia Singapore Pte. Ltd. Purchases Shares of 11,364 Cytek Biosciences, Inc. (NASDAQ:CTKB)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) in the 4th quarter, Holdings Channel reports. The firm acquired 11,364 shares of the company’s stock, valued at approximately $74,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CTKB. Point72 Asset Management L.P. acquired a new stake in Cytek Biosciences in the fourth quarter valued at approximately $2,527,000. ProShare Advisors LLC increased its position in shares of Cytek Biosciences by 44.8% in the 4th quarter. ProShare Advisors LLC now owns 36,241 shares of the company’s stock valued at $235,000 after purchasing an additional 11,213 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Cytek Biosciences in the 4th quarter valued at $92,000. Millennium Management LLC raised its holdings in shares of Cytek Biosciences by 321.8% in the 4th quarter. Millennium Management LLC now owns 803,923 shares of the company’s stock valued at $5,217,000 after purchasing an additional 613,314 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cytek Biosciences by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,074 shares of the company’s stock worth $448,000 after purchasing an additional 2,373 shares during the last quarter. 69.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CTKB shares. TD Cowen lowered 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. Piper Sandler dropped their price objective on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group cut their target price on Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating on the stock in a research report on Monday, May 12th. Finally, Stephens reaffirmed an “overweight” rating and issued a $6.00 price target on shares of Cytek Biosciences in a report on Wednesday, March 19th.

Cytek Biosciences Price Performance

Shares of NASDAQ:CTKB opened at $2.67 on Friday. Cytek Biosciences, Inc. has a 12 month low of $2.52 and a 12 month high of $7.63. The firm has a market capitalization of $338.18 million, a P/E ratio of -33.37 and a beta of 1.42. The company’s fifty day moving average price is $3.73 and its 200 day moving average price is $5.18.

Cytek Biosciences (NASDAQ:CTKB) last posted its earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. The firm had revenue of $41.46 million for the quarter, compared to analyst estimates of $43.18 million. On average, sell-side analysts anticipate that Cytek Biosciences, Inc. will post -0.06 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.