Cubist Systematic Strategies LLC Purchases New Stake in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Cubist Systematic Strategies LLC bought a new position in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 116,624 shares of the company's stock, valued at approximately $757,000. Cubist Systematic Strategies LLC owned 0.09% of Cytek Biosciences at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Cytek Biosciences by 280.3% in the fourth quarter. GAMMA Investing LLC now owns 4,932 shares of the company's stock worth $32,000 after buying an additional 3,635 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Cytek Biosciences during the 4th quarter worth $196,000. Principal Financial Group Inc. grew its stake in Cytek Biosciences by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 506,925 shares of the company's stock valued at $3,290,000 after purchasing an additional 3,753 shares during the last quarter. Olympiad Research LP raised its holdings in Cytek Biosciences by 51.0% in the fourth quarter. Olympiad Research LP now owns 19,601 shares of the company's stock worth $127,000 after purchasing an additional 6,617 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Cytek Biosciences by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 730,709 shares of the company's stock worth $4,742,000 after acquiring an additional 11,665 shares in the last quarter. Institutional investors own 69.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CTKB shares. The Goldman Sachs Group reduced their price target on Cytek Biosciences from $3.50 to $3.00 and set a "sell" rating on the stock in a research report on Monday, May 12th. TD Cowen cut Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a research note on Friday, May 9th. Piper Sandler cut their price objective on shares of Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Finally, Stephens reiterated an "overweight" rating and issued a $6.00 price objective on shares of Cytek Biosciences in a research note on Wednesday, March 19th.

Cytek Biosciences Stock Down 0.2%

Shares of NASDAQ CTKB traded down $0.01 during trading on Tuesday, hitting $2.69. The company had a trading volume of 339,575 shares, compared to its average volume of 726,235. The firm has a market capitalization of $340.08 million, a price-to-earnings ratio of -33.43 and a beta of 1.42. The stock has a fifty day simple moving average of $3.71 and a two-hundred day simple moving average of $5.17. Cytek Biosciences, Inc. has a fifty-two week low of $2.48 and a fifty-two week high of $7.63.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. The firm had revenue of $41.46 million during the quarter, compared to analysts' expectations of $43.18 million. On average, analysts anticipate that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

About Cytek Biosciences

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.