Texas Permanent School Fund Corp Makes New Investment in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Texas Permanent School Fund Corp bought a new position in Cytek Biosciences, Inc. (NASDAQ:CTKB) in the second quarter, Holdings Channel.com reports. The institutional investor bought 70,468 shares of the company’s stock, valued at approximately $602,000.

Several other institutional investors and hedge funds have also bought and sold shares of CTKB. Royal Bank of Canada grew its stake in Cytek Biosciences by 222.0% during the 3rd quarter. Royal Bank of Canada now owns 2,074 shares of the company’s stock worth $30,000 after buying an additional 1,430 shares during the last quarter. KBC Group NV purchased a new stake in shares of Cytek Biosciences during the second quarter worth about $45,000. UBS Group AG increased its holdings in shares of Cytek Biosciences by 6,269.8% during the third quarter. UBS Group AG now owns 4,013 shares of the company’s stock valued at $59,000 after acquiring an additional 3,950 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Cytek Biosciences by 30.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,899 shares of the company’s stock valued at $67,000 after acquiring an additional 1,837 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in shares of Cytek Biosciences by 31.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 6,415 shares of the company’s stock valued at $69,000 after acquiring an additional 1,536 shares in the last quarter. 56.50% of the stock is owned by hedge funds and other institutional investors.

Cytek Biosciences Stock Up 1.7 %

Cytek Biosciences stock opened at $6.08 on Tuesday. Cytek Biosciences, Inc. has a 52 week low of $3.80 and a 52 week high of $14.85. The company has a market capitalization of $824.14 million, a price-to-earnings ratio of -60.80 and a beta of 0.65. The stock has a 50-day moving average price of $5.41 and a 200 day moving average price of $7.32.

Insider Buying and Selling

In related news, CEO Wenbin Jiang sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $4.34, for a total transaction of $86,800.00. Following the completion of the transaction, the chief executive officer now owns 5,275,796 shares of the company’s stock, valued at $22,896,954.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 109,000 shares of company stock valued at $612,050 over the last 90 days. Insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CTKB. Piper Sandler cut their price objective on shares of Cytek Biosciences from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Morgan Stanley dropped their price objective on shares of Cytek Biosciences from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th.

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, which leverages full spectrum profiling technology to further broaden potential applications across cell analysis.