Bayesian Capital Management LP Acquires Shares of 22,900 Cytek Biosciences, Inc. (NASDAQ:CTKB)

Bayesian Capital Management LP bought a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,900 shares of the company’s stock, valued at approximately $149,000.

Other large investors have also made changes to their positions in the company. Sterling Capital Management LLC boosted its stake 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 buying an additional 3,455 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Cytek Biosciences during the 4th quarter valued at about $25,000. GAMMA Investing LLC grew its holdings in shares of Cytek Biosciences by 280.3% in the fourth quarter. GAMMA Investing LLC now owns 4,932 shares of the company’s stock valued at $32,000 after purchasing 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 purchasing an additional 4,665 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Cytek Biosciences during the fourth quarter worth about $71,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Cytek Biosciences Stock Performance

NASDAQ:CTKB opened at $3.79 on Friday. Cytek Biosciences, Inc. has a fifty-two week low of $3.27 and a fifty-two week high of $7.63. The company has a 50 day moving average price of $3.92 and a 200 day moving average price of $5.27. The stock has a market capitalization of $483.60 million, a P/E ratio of -47.37 and a beta of 1.42.

Cytek Biosciences (NASDAQ:CTKB) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on CTKB shares. Stephens reiterated an “overweight” rating and issued a $6.00 price objective on shares of Cytek Biosciences in a report on Wednesday, March 19th. The Goldman Sachs Group set a $5.25 price target on Cytek Biosciences in a research note on Sunday, February 2nd. Finally, Piper Sandler cut their price objective on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th.

Cytek Biosciences Company 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.