Cytek Biosciences, Inc. (NASDAQ:CTKB) CTO Sells $220,600.00 in Stock

Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) CTO Ming Yan sold 20,000 shares of Cytek Biosciences stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $11.03, for a total transaction of $220,600.00. Following the completion of the transaction, the chief technology officer now directly owns 7,946,833 shares in the company, valued at $87,653,567.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ming Yan also recently made the following trade(s):

• On Monday, December 19th, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The stock was sold at an average price of $10.38, for a total transaction of $207,600.00.
• On Monday, November 21st, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The stock was sold at an average price of $14.66, for a total transaction of $293,200.00.

Cytek Biosciences Stock Performance

Shares of CTKB opened at $11.01 on Friday. The company’s 50 day moving average price is $11.77 and its 200 day moving average price is $12.97. Cytek Biosciences, Inc. has a 52 week low of $7.38 and a 52 week high of $16.05. The company has a market capitalization of $1.48 billion, a PE ratio of -1,101.00 and a beta of 0.06.

Cytek Biosciences (NASDAQ:CTKB – Get Rating) last announced its quarterly earnings data 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 negative net margin of 0.47% and a positive return on equity of 0.94%. The company had revenue of $40.48 million for the quarter, compared to analysts’ expectations of $43.36 million. On average, equities analysts forecast that Cytek Biosciences, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTKB. Royal Bank of Canada lifted its stake in Cytek Biosciences by 222.0% in the third quarter. Royal Bank of Canada now owns 2,074 shares of the company’s stock valued at $30,000 after acquiring an additional 1,430 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake 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 acquiring an additional 1,536 shares during the last quarter. Credit Suisse AG lifted its stake in Cytek Biosciences by 3.5% in the third quarter. Credit Suisse AG now owns 47,115 shares of the company’s stock valued at $694,000 after acquiring an additional 1,604 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Cytek Biosciences by 54.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,077 shares of the company’s stock valued at $74,000 after acquiring an additional 1,789 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Cytek Biosciences by 0.5% in the second quarter. FMR LLC now owns 520,845 shares of the company’s stock worth $5,589,000 after buying an additional 2,616 shares during the last quarter. 49.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Cytek Biosciences Company Profile

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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.