Cytek Biosciences, Inc. (NASDAQ:CTKB) CTO Ming Yan Sells 20,000 Shares of Stock

Cytek Biosciences, Inc. (NASDAQ:CTKB) CTO Ming Yan sold 20,000 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $5.87, for a total value of $117,400.00. Following the sale, the chief technology officer now owns 5,988,502 shares in the company, valued at approximately $35,152,506.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ming Yan also recently made the following trade(s):

• On Tuesday, April 9th, Ming Yan sold 1,900 shares of Cytek Biosciences stock. The stock was sold at an average price of $7.00, for a total value of $13,300.00.
• On Monday, March 18th, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The stock was sold at an average price of $6.77, for a total value of $135,400.00.

Cytek Biosciences Stock Performance

CTKB opened at $5.81 on Wednesday. Cytek Biosciences, Inc. has a one year low of $3.80 and a one year high of $12.31. The company has a market cap of $760.06 million, a P/E ratio of -64.55 and a beta of 1.37. The business’s 50-day simple moving average is $7.13 and its 200-day simple moving average is $7.09.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings data on Wednesday, March 13th. The company reported $0.04 EPS for the quarter. Cytek Biosciences had a negative return on equity of 1.40% and a negative net margin of 6.29%. The business had revenue of $58.23 million for the quarter, compared to the consensus estimate of $56.66 million. As a group, analysts predict that Cytek Biosciences, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CTKB has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on Cytek Biosciences from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Piper Sandler dropped their price objective on Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Institutional Trading of Cytek Biosciences

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in shares of Cytek Biosciences in the 4th quarter valued at about $36,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Cytek Biosciences in the 3rd quarter valued at about $86,000. Everence Capital Management Inc. acquired a new stake in shares of Cytek Biosciences in the 3rd quarter valued at about $88,000. Oregon Public Employees Retirement Fund boosted its position in shares of Cytek Biosciences by 18.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 29,450 shares of the company’s stock valued at $163,000 after purchasing an additional 4,500 shares during the period. Finally, Versor Investments LP acquired a new stake in shares of Cytek Biosciences in the 3rd quarter valued at about $187,000. 69.46% of the stock is owned by institutional investors and hedge funds.

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.