Insider Selling: Cytek Biosciences, Inc. (NASDAQ:CTKB) CEO Sells 20,000 Shares of Stock

Cytek Biosciences, Inc. (NASDAQ:CTKBGet Rating) CEO Wenbin Jiang sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $10.75, for a total transaction of $215,000.00. Following the transaction, the chief executive officer now directly owns 7,881,541 shares in the company, valued at approximately $84,726,565.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wenbin Jiang also recently made the following trade(s):

  • On Monday, May 9th, Wenbin Jiang sold 20,000 shares of Cytek Biosciences stock. The shares were sold at an average price of $8.01, for a total transaction of $160,200.00.
  • On Thursday, April 7th, Wenbin Jiang sold 20,000 shares of Cytek Biosciences stock. The shares were sold at an average price of $10.54, for a total transaction of $210,800.00.

Shares of Cytek Biosciences stock traded down $0.44 on Thursday, reaching $10.43. The stock had a trading volume of 432,811 shares, compared to its average volume of 977,402. The company has a 50 day moving average price of $9.88 and a 200 day moving average price of $13.19. Cytek Biosciences, Inc. has a 1 year low of $7.38 and a 1 year high of $28.70. The stock has a market capitalization of $1.40 billion and a P/E ratio of -521.50.

Cytek Biosciences (NASDAQ:CTKBGet Rating) last released its earnings results on Wednesday, May 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.03). The company had revenue of $35.06 million for the quarter, compared to analysts’ expectations of $33.00 million. Cytek Biosciences had a return on equity of 1.78% and a net margin of 0.98%. As a group, equities research analysts anticipate that Cytek Biosciences, Inc. will post 0.09 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Cytek Biosciences by 4,163.9% during the 1st quarter. Bank of America Corp DE now owns 243,938 shares of the company’s stock worth $2,629,000 after purchasing an additional 238,217 shares during the last quarter. Walleye Capital LLC lifted its stake in Cytek Biosciences by 48.7% during the 1st quarter. Walleye Capital LLC now owns 97,852 shares of the company’s stock valued at $1,055,000 after acquiring an additional 32,032 shares during the period. Jane Street Group LLC acquired a new stake in Cytek Biosciences during the 1st quarter valued at approximately $837,000. Alyeska Investment Group L.P. acquired a new stake in Cytek Biosciences during the 1st quarter valued at approximately $1,078,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Cytek Biosciences during the 1st quarter valued at approximately $132,000. 35.95% of the stock is currently owned by institutional investors.

A number of research analysts have commented on CTKB shares. Piper Sandler cut their target price on shares of Cytek Biosciences from $17.00 to $12.00 and set a “na” rating on the stock in a research report on Sunday, May 15th. Zacks Investment Research downgraded shares of Cytek Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, April 28th. Morgan Stanley cut their price objective on shares of Cytek Biosciences from $27.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 15th. Finally, The Goldman Sachs Group cut their price objective on shares of Cytek Biosciences from $28.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.75.

Cytek Biosciences Company Profile (Get Rating)

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.

Further Reading

Insider Buying and Selling by Quarter for Cytek Biosciences (NASDAQ:CTKB)

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