JT Stratford LLC Purchases Shares of 36,670 Cytek Biosciences, Inc. $CTKB

JT Stratford LLC purchased a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,670 shares of the company’s stock, valued at approximately $147,000.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in Cytek Biosciences in the 1st quarter valued at $63,000. New York State Teachers Retirement System boosted its holdings in Cytek Biosciences by 6.8% in the 1st quarter. New York State Teachers Retirement System now owns 48,463 shares of the company’s stock valued at $194,000 after purchasing an additional 3,100 shares during the period. Millennium Management LLC boosted its holdings in 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 during the period. Deutsche Bank AG boosted its holdings in Cytek Biosciences by 54.8% in the 4th quarter. Deutsche Bank AG now owns 103,182 shares of the company’s stock valued at $670,000 after purchasing an additional 36,542 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Cytek Biosciences by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 520,743 shares of the company’s stock valued at $2,088,000 after purchasing an additional 13,818 shares during the period. 69.46% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO William D. Mccombe bought 35,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average price of $2.78 per share, for a total transaction of $97,300.00. Following the transaction, the chief financial officer directly owned 55,746 shares of the company’s stock, valued at $154,973.88. This trade represents a 168.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.33% of the stock is owned by company insiders.

Cytek Biosciences Stock Performance

Shares of CTKB stock opened at $4.00 on Thursday. The stock has a market cap of $508.88 million, a price-to-earnings ratio of -80.00 and a beta of 1.34. The firm has a fifty day moving average of $3.55 and a 200-day moving average of $3.80. Cytek Biosciences, Inc. has a 52-week low of $2.37 and a 52-week high of $7.63.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen downgraded shares of Cytek Biosciences from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Friday, May 9th. Morgan Stanley dropped their price objective on shares of Cytek Biosciences from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating for the company in a research note on Monday, May 12th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.60.

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.