Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 130.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,701 shares of the company’s stock after acquiring an additional 11,734 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cytek Biosciences were worth $189,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sherbrooke Park Advisers LLC acquired a new stake in Cytek Biosciences during the third quarter worth approximately $86,000. Oregon Public Employees Retirement Fund raised its stake in Cytek Biosciences by 18.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 29,450 shares of the company’s stock worth $163,000 after acquiring an additional 4,500 shares in the last quarter. Arizona State Retirement System lifted its position in Cytek Biosciences by 29.0% in the fourth quarter. Arizona State Retirement System now owns 32,401 shares of the company’s stock valued at $295,000 after acquiring an additional 7,293 shares during the last quarter. Versor Investments LP acquired a new position in Cytek Biosciences in the third quarter valued at $187,000. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Cytek Biosciences by 17.6% during the third quarter. Maryland State Retirement & Pension System now owns 36,661 shares of the company’s stock worth $202,000 after purchasing an additional 5,476 shares during the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CTO Ming Yan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $5.87, for a total value of $117,400.00. Following the transaction, the chief technology officer now directly owns 5,988,502 shares of the company’s stock, valued at approximately $35,152,506.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 41,900 shares of company stock worth $266,100 over the last ninety days. 15.90% of the stock is currently owned by company insiders.

Cytek Biosciences Trading Down 0.6 %

Cytek Biosciences stock opened at $6.38 on Wednesday. Cytek Biosciences, Inc. has a 52 week low of $3.80 and a 52 week high of $11.88. The stock has a market cap of $837.44 million, a P/E ratio of -70.21 and a beta of 1.38. The stock has a 50 day moving average of $6.68 and a 200-day moving average of $7.15.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings data on Wednesday, March 13th. The company reported $0.04 earnings per share (EPS) for the quarter. Cytek Biosciences had a negative return on equity of 1.40% and a negative net margin of 6.29%. The business had revenue of $58.23 million during the quarter, compared to analyst estimates of $56.66 million. As a group, equities analysts predict that Cytek Biosciences, Inc. will post -0.04 earnings per share for the current fiscal year.

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.