State Board of Administration of Florida Retirement System Buys New Shares in Cytek Biosciences, Inc. (NASDAQ:CTKB)

State Board of Administration of Florida Retirement System bought a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKBGet Rating) during the 2nd quarter, HoldingsChannel reports. The firm bought 16,320 shares of the company’s stock, valued at approximately $175,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Cytek Biosciences by 64.1% in the first quarter. Royal Bank of Canada now owns 5,995 shares of the company’s stock valued at $65,000 after buying an additional 2,341 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in Cytek Biosciences by 31.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 6,415 shares of the company’s stock valued at $69,000 after buying an additional 1,536 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Cytek Biosciences by 514.7% in the first quarter. Ameritas Investment Partners Inc. now owns 7,567 shares of the company’s stock valued at $82,000 after buying an additional 6,336 shares during the period. Point72 Hong Kong Ltd acquired a new position in Cytek Biosciences in the first quarter valued at $132,000. Finally, Amalgamated Bank acquired a new position in Cytek Biosciences in the first quarter valued at $164,000. Institutional investors and hedge funds own 43.54% of the company’s stock.

Cytek Biosciences Trading Down 1.7 %

Shares of NASDAQ CTKB opened at $14.51 on Wednesday. The firm’s 50-day moving average price is $14.42 and its 200-day moving average price is $12.56. Cytek Biosciences, Inc. has a 1-year low of $7.38 and a 1-year high of $20.57. The firm has a market capitalization of $1.96 billion, a P/E ratio of -1,451.00 and a beta of 0.05.

Insider Buying and Selling

In related news, CTO Ming Yan sold 20,000 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $14.66, for a total value of $293,200.00. Following the sale, the chief technology officer now owns 7,986,833 shares in the company, valued at approximately $117,086,971.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Ming Yan sold 20,000 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $14.66, for a total value of $293,200.00. Following the sale, the chief technology officer now owns 7,986,833 shares in the company, valued at approximately $117,086,971.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack Ball sold 16,000 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $14.69, for a total transaction of $235,040.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $44,070. The disclosure for this sale can be found here. Insiders have sold 143,000 shares of company stock worth $2,011,105 in the last quarter. Insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Cytek Biosciences from $16.00 to $18.00 in a report on Monday, November 14th. The Goldman Sachs Group upped their price objective on shares of Cytek Biosciences from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Finally, Morgan Stanley upped their price objective on shares of Cytek Biosciences from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Friday, August 12th.

About Cytek Biosciences

(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.

See Also

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

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