Cytek Biosciences, Inc. $CTKB Shares Bought by Royce & Associates LP

Royce & Associates LP lifted its holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 26.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,763,262 shares of the company’s stock after purchasing an additional 373,456 shares during the quarter. Royce & Associates LP’s holdings in Cytek Biosciences were worth $6,119,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Topline Capital Management LLC grew its position in Cytek Biosciences by 255.7% in the 2nd quarter. Topline Capital Management LLC now owns 5,231,260 shares of the company’s stock valued at $17,786,000 after buying an additional 3,760,485 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Cytek Biosciences by 89.6% in the second quarter. AQR Capital Management LLC now owns 1,238,393 shares of the company’s stock valued at $4,211,000 after acquiring an additional 585,116 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Cytek Biosciences by 412.2% during the first quarter. Jane Street Group LLC now owns 344,169 shares of the company’s stock valued at $1,380,000 after acquiring an additional 276,972 shares during the period. Marshall Wace LLP bought a new stake in Cytek Biosciences during the second quarter worth approximately $889,000. Finally, Ameriprise Financial Inc. raised its holdings in Cytek Biosciences by 48.7% during the second quarter. Ameriprise Financial Inc. now owns 412,311 shares of the company’s stock worth $1,402,000 after purchasing an additional 134,963 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CTKB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytek Biosciences in a research note on Monday, December 29th. TD Cowen reaffirmed a “buy” rating on shares of Cytek Biosciences in a research note on Thursday, January 8th. Morgan Stanley started coverage on shares of Cytek Biosciences in a research report on Monday, December 1st. They issued an “equal weight” rating and a $6.00 price target on the stock. Finally, Piper Sandler cut their price target on shares of Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.50.

Cytek Biosciences Price Performance

Shares of CTKB opened at $4.41 on Thursday. The business’s 50-day moving average is $4.91 and its 200-day moving average is $4.57. The company has a market capitalization of $563.86 million, a price-to-earnings ratio of -8.65 and a beta of 1.31. Cytek Biosciences, Inc. has a fifty-two week low of $2.37 and a fifty-two week high of $6.18.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.36). The company had revenue of $62.14 million for the quarter, compared to analysts’ expectations of $58.80 million. Cytek Biosciences had a negative net margin of 33.02% and a negative return on equity of 7.70%. Equities research analysts expect that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

About Cytek Biosciences

Cytek Biosciences is a biotechnology company specializing in innovative cell analysis solutions. The firm develops and commercializes advanced spectral flow cytometry instruments and associated reagents designed to enable high-parameter single-cell analysis. Its technology platform offers researchers and clinicians enhanced sensitivity, resolution and flexibility compared to traditional flow cytometry methods.

The company’s core product portfolio includes the Aurora and Northern Lights spectral cytometry systems, which support simultaneous detection of up to 64 fluorescence parameters.