Walleye Capital LLC Buys 32,032 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Walleye Capital LLC lifted its stake in Cytek Biosciences, Inc. (NASDAQ:CTKBGet Rating) by 48.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,852 shares of the company’s stock after acquiring an additional 32,032 shares during the period. Walleye Capital LLC’s holdings in Cytek Biosciences were worth $1,055,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CTKB. Miura Global Management LLC raised its position in shares of Cytek Biosciences by 42.6% in the fourth quarter. Miura Global Management LLC now owns 3,020,000 shares of the company’s stock worth $49,286,000 after buying an additional 902,500 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Cytek Biosciences by 555.2% in the first quarter. New York State Common Retirement Fund now owns 70,954 shares of the company’s stock worth $765,000 after buying an additional 60,125 shares in the last quarter. Northern Trust Corp raised its position in shares of Cytek Biosciences by 11.1% in the fourth quarter. Northern Trust Corp now owns 159,805 shares of the company’s stock worth $2,608,000 after buying an additional 15,946 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Cytek Biosciences in the first quarter worth $210,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Cytek Biosciences in the first quarter worth $197,000. 43.54% of the stock is owned by institutional investors.

Cytek Biosciences Stock Down 4.3 %

NASDAQ CTKB opened at $13.29 on Monday. The stock’s 50-day simple moving average is $13.10 and its two-hundred day simple moving average is $11.38. Cytek Biosciences, Inc. has a twelve month low of $7.38 and a twelve month high of $27.93. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -664.50 and a beta of 0.53.

Cytek Biosciences (NASDAQ:CTKBGet Rating) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Cytek Biosciences had a positive return on equity of 0.62% and a negative net margin of 1.28%. On average, equities analysts expect that Cytek Biosciences, Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTKB. Piper Sandler increased their price objective on Cytek Biosciences from $12.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Morgan Stanley increased their price objective on Cytek Biosciences from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 12th. Finally, The Goldman Sachs Group raised their price target on Cytek Biosciences from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 11th.

Insider Transactions at Cytek Biosciences

In other news, CTO Ming Yan sold 20,000 shares of Cytek Biosciences stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $10.06, for a total value of $201,200.00. Following the transaction, the chief technology officer now owns 8,084,415 shares in the company, valued at $81,329,214.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CTO Ming Yan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $10.06, for a total value of $201,200.00. Following the sale, the chief technology officer now directly owns 8,084,415 shares of the company’s stock, valued at $81,329,214.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrik Jeanmonod sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $12.80, for a total value of $44,800.00. Following the completion of the sale, the chief financial officer now directly owns 94,994 shares in the company, valued at $1,215,923.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,000 shares of company stock worth $1,585,475. Company insiders own 15.90% of the company’s stock.

About Cytek Biosciences

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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

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Institutional Ownership by Quarter for Cytek Biosciences (NASDAQ:CTKB)

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