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

Cytek Biosciences, Inc. (NASDAQ:CTKB) CTO Ming Yan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $6.77, for a total value of $135,400.00. Following the sale, the chief technology officer now owns 6,030,402 shares of the company’s stock, valued at $40,825,821.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Cytek Biosciences Price Performance

Shares of NASDAQ CTKB opened at $6.70 on Thursday. The business has a 50-day moving average price of $8.02 and a 200 day moving average price of $7.10. The stock has a market cap of $876.49 million, a PE ratio of -67.00 and a beta of 1.41. Cytek Biosciences, Inc. has a 52-week low of $3.80 and a 52-week high of $12.31.

Analyst Ratings Changes

CTKB has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on Cytek Biosciences from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Stephens assumed coverage on shares of Cytek Biosciences in a report on Thursday, December 14th. They issued an “overweight” rating and a $9.00 target price on the stock. Finally, Piper Sandler lowered their price objective on Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating for the company in a research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Hedge Funds Weigh In On Cytek Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Cytek Biosciences by 82.5% in the 2nd quarter. BlackRock Inc. now owns 15,127,505 shares of the company’s stock valued at $129,189,000 after buying an additional 6,840,258 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Cytek Biosciences by 424.2% during the 1st quarter. Vanguard Group Inc. now owns 6,352,090 shares of the company’s stock worth $68,475,000 after buying an additional 5,140,344 shares in the last quarter. Brown Capital Management LLC lifted its holdings in shares of Cytek Biosciences by 24.8% in the 2nd quarter. Brown Capital Management LLC now owns 10,731,683 shares of the company’s stock valued at $91,649,000 after buying an additional 2,130,260 shares during the period. State Street Corp boosted its stake in shares of Cytek Biosciences by 65.5% in the second quarter. State Street Corp now owns 3,407,435 shares of the company’s stock valued at $29,099,000 after buying an additional 1,348,163 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Cytek Biosciences during the first quarter worth $11,352,000. Institutional investors and hedge funds own 56.50% of the company’s stock.

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.