Lazard Asset Management LLC Invests $70,000 in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Lazard Asset Management LLC purchased a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKBGet Rating) in the second quarter, HoldingsChannel reports. The institutional investor purchased 6,555 shares of the company’s stock, valued at approximately $70,000.

A number of other large investors also recently modified their holdings of the business. State Board of Administration of Florida Retirement System acquired a new position in shares of Cytek Biosciences during the second quarter worth approximately $175,000. SG Americas Securities LLC bought a new stake in shares of Cytek Biosciences during the second quarter worth $330,000. Cornerstone Investment Partners LLC bought a new stake in shares of Cytek Biosciences during the second quarter worth $198,000. Arizona State Retirement System bought a new stake in shares of Cytek Biosciences during the second quarter worth $195,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Cytek Biosciences during the second quarter worth $354,000. 43.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cytek Biosciences

In related news, CTO Ming Yan sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $14.66, for a total value of $293,200.00. Following the transaction, the chief technology officer now owns 7,986,833 shares in the company, valued at $117,086,971.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cytek Biosciences news, CTO Ming Yan sold 20,000 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $14.66, for a total value of $293,200.00. Following the transaction, the chief technology officer now owns 7,986,833 shares of the company’s stock, valued at $117,086,971.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Patrik Jeanmonod sold 3,500 shares of the stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $12.63, for a total value of $44,205.00. Following the completion of the transaction, the chief financial officer now directly owns 89,063 shares in the company, valued at approximately $1,124,865.69. The disclosure for this sale can be found here. Insiders have sold a total of 143,000 shares of company stock worth $2,011,105 over the last 90 days. Insiders own 15.90% of the company’s stock.

Cytek Biosciences Stock Down 0.9 %

Cytek Biosciences stock opened at $14.38 on Friday. The business’s 50-day simple moving average is $14.45 and its 200 day simple moving average is $12.63. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -1,438.00 and a beta of 0.05. Cytek Biosciences, Inc. has a 12-month low of $7.38 and a 12-month high of $20.47.

Analysts Set New Price Targets

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

Cytek Biosciences 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.

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

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