Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. cut its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,860 shares of the company’s stock after selling 2,160 shares during the period. Everence Capital Management Inc.’s holdings in Cytek Biosciences were worth $126,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTKB. Principal Financial Group Inc. acquired a new stake in shares of Cytek Biosciences in the first quarter worth approximately $171,000. ProShare Advisors LLC acquired a new stake in shares of Cytek Biosciences in the first quarter worth approximately $197,000. JPMorgan Chase & Co. boosted its position in shares of Cytek Biosciences by 402.5% in the first quarter. JPMorgan Chase & Co. now owns 49,906 shares of the company’s stock worth $538,000 after acquiring an additional 39,974 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Cytek Biosciences by 403.9% during the first quarter. Bank of New York Mellon Corp now owns 266,335 shares of the company’s stock valued at $2,871,000 after buying an additional 213,476 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Cytek Biosciences by 749.0% during the first quarter. MetLife Investment Management LLC now owns 54,754 shares of the company’s stock valued at $590,000 after buying an additional 48,305 shares in the last quarter. 69.46% of the stock is owned by institutional investors and hedge funds.

Cytek Biosciences Trading Down 0.7 %

NASDAQ CTKB opened at $5.92 on Friday. The company’s fifty day simple moving average is $7.23 and its 200-day simple moving average is $7.06. Cytek Biosciences, Inc. has a 52 week low of $3.80 and a 52 week high of $12.31. The stock has a market cap of $774.45 million, a P/E ratio of -65.77 and a beta of 1.37.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler reduced their price target on shares of Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 6th. The Goldman Sachs Group lifted their price target on shares of Cytek Biosciences from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Insider Transactions at Cytek Biosciences

In other news, CTO Ming Yan sold 20,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $6.77, for a total transaction of $135,400.00. Following the transaction, the chief technology officer now directly owns 6,030,402 shares of the company’s stock, valued at $40,825,821.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 15.90% of the company’s stock.

Cytek Biosciences Profile

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 that leverages full spectrum profiling technology to further broaden potential applications across cell analysis; aurora CS systems; amnis imagestream imaging flow cytometers; guava muse cell analyzers; guava easycyte flow cytometers; and orion reagent cocktail preparation systems.