Dynamic Technology Lab Private Ltd Increases Stock Position in Cytek Biosciences, Inc. $CTKB

Dynamic Technology Lab Private Ltd lifted its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 244.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,714 shares of the company’s stock after purchasing an additional 32,427 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Cytek Biosciences were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group grew its holdings in Cytek Biosciences by 992,200.0% during the first quarter. Brooklyn Investment Group now owns 9,923 shares of the company’s stock worth $40,000 after acquiring an additional 9,922 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Cytek Biosciences during the 2nd quarter worth $42,000. US Bancorp DE grew its stake in shares of Cytek Biosciences by 9,698.2% during the 1st quarter. US Bancorp DE now owns 10,680 shares of the company’s stock worth $43,000 after purchasing an additional 10,571 shares during the period. Pallas Capital Advisors LLC acquired a new position in shares of Cytek Biosciences during the 2nd quarter worth $48,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Cytek Biosciences in the 2nd quarter valued at about $52,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Cytek Biosciences Price Performance

Shares of CTKB opened at $5.60 on Thursday. Cytek Biosciences, Inc. has a 1-year low of $2.37 and a 1-year high of $7.30. The stock has a market cap of $716.02 million, a price-to-earnings ratio of -55.99 and a beta of 1.33. The firm has a 50 day simple moving average of $4.28 and a 200-day simple moving average of $3.76.

Cytek Biosciences (NASDAQ:CTKB) last posted its earnings results on Tuesday, November 28th. The company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $40.48 million for the quarter. Cytek Biosciences had a negative return on equity of 3.35% and a negative net margin of 6.51%. On average, equities analysts expect that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Cytek Biosciences in a research report on Wednesday, October 8th. Zacks Research cut Cytek Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Piper Sandler reduced their price objective on Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.50.

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.