Strs Ohio Takes Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Strs Ohio purchased a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 21,700 shares of the company’s stock, valued at approximately $319,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Cytek Biosciences by 54.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,077 shares of the company’s stock valued at $74,000 after buying an additional 1,789 shares during the period. Royal Bank of Canada boosted its holdings in shares of Cytek Biosciences by 64.1% in the 1st 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 position in Cytek Biosciences by 31.5% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 6,415 shares of the company’s stock valued at $69,000 after purchasing an additional 1,536 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Cytek Biosciences in the 2nd quarter valued at about $70,000. Finally, Ameritas Investment Partners Inc. lifted its position in Cytek Biosciences by 514.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,567 shares of the company’s stock valued at $82,000 after purchasing an additional 6,336 shares during the last quarter. 49.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price objective on shares of Cytek Biosciences from $16.00 to $18.00 in a research report on Monday, November 14th.

Cytek Biosciences Stock Down 6.8 %

Shares of NASDAQ:CTKB opened at $11.01 on Friday. The company has a market cap of $1.48 billion, a PE ratio of -1,101.00 and a beta of 0.06. The company’s 50-day moving average price is $11.84 and its 200 day moving average price is $12.96. Cytek Biosciences, Inc. has a fifty-two week low of $7.38 and a fifty-two week high of $16.05.

Cytek Biosciences (NASDAQ:CTKB – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Cytek Biosciences had a positive return on equity of 0.94% and a negative net margin of 0.47%. The company had revenue of $40.48 million for the quarter, compared to the consensus estimate of $43.36 million. As a group, equities analysts anticipate that Cytek Biosciences, Inc. will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Cytek Biosciences news, CEO Wenbin Jiang sold 20,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $14.76, for a total transaction of $295,200.00. Following the sale, the chief executive officer now directly owns 7,785,820 shares in the company, valued at approximately $114,918,703.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cytek Biosciences news, CFO Patrik Jeanmonod sold 3,500 shares of the business’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $9.77, for a total transaction of $34,195.00. Following the sale, the chief financial officer now directly owns 79,632 shares in the company, valued at approximately $778,004.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wenbin Jiang sold 20,000 shares of Cytek Biosciences stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $14.76, for a total transaction of $295,200.00. Following the completion of the transaction, the chief executive officer now directly owns 7,785,820 shares in the company, valued at approximately $114,918,703.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,500 shares of company stock worth $1,618,745. 15.90% of the stock is owned by corporate insiders.

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.