New York State Common Retirement Fund Acquires 599,971 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

New York State Common Retirement Fund increased its holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,947,986 shares of the company’s stock after buying an additional 599,971 shares during the period. New York State Common Retirement Fund’s holdings in Cytek Biosciences were worth $26,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in Cytek Biosciences in the fourth quarter worth approximately $36,000. Sherbrooke Park Advisers LLC purchased a new position in Cytek Biosciences in the third quarter worth $86,000. Oregon Public Employees Retirement Fund grew its holdings in Cytek Biosciences by 18.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 29,450 shares of the company’s stock worth $163,000 after purchasing an additional 4,500 shares during the last quarter. Versor Investments LP purchased a new position in Cytek Biosciences in the third quarter worth $187,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cytek Biosciences by 130.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,701 shares of the company’s stock worth $189,000 after purchasing an additional 11,734 shares during the last quarter. Institutional investors own 69.46% of the company’s stock.

Analyst Ratings Changes

CTKB has been the topic of several analyst reports. Piper Sandler cut their price target on shares of Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, March 6th. The Goldman Sachs Group lifted their price target on shares of Cytek Biosciences from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Cytek Biosciences has an average rating of “Moderate Buy” and an average target price of $9.00.

Cytek Biosciences Trading Up 2.3 %

NASDAQ CTKB opened at $5.76 on Friday. The firm has a market capitalization of $753.52 million, a P/E ratio of -63.99 and a beta of 1.37. Cytek Biosciences, Inc. has a 12-month low of $3.80 and a 12-month high of $12.31. The firm’s fifty day simple moving average is $6.96 and its two-hundred day simple moving average is $7.07.

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

Insider Activity

In other news, CTO Ming Yan sold 20,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $5.87, for a total transaction of $117,400.00. Following the sale, the chief technology officer now directly owns 5,988,502 shares of the company’s stock, valued at $35,152,506.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 41,900 shares of company stock valued at $266,100 over the last ninety days. 15.90% of the stock is currently owned by insiders.

Cytek Biosciences 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.