Cubist Systematic Strategies LLC Invests $757,000 in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Cubist Systematic Strategies LLC acquired a new position in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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 reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new stake in shares of Cytek Biosciences in the 4th quarter worth approximately $25,000. Sterling Capital Management LLC raised its stake in Cytek Biosciences by 799.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,887 shares of the company's stock worth $25,000 after buying an additional 3,455 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Cytek Biosciences by 280.3% during 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 during the period. PNC Financial Services Group Inc. boosted its position in Cytek Biosciences by 111.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company's stock valued at $57,000 after acquiring an additional 4,665 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Cytek Biosciences in the 4th quarter valued at $71,000. Hedge funds and other institutional investors own 69.46% of the company's stock.

Wall Street Analyst Weigh In

CTKB has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price objective 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. 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 research report on Tuesday, March 4th. TD Cowen lowered shares of Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a report on Friday, May 9th. Finally, Stephens reiterated an "overweight" rating and set a $6.00 price objective on shares of Cytek Biosciences in a report on Wednesday, March 19th.

Cytek Biosciences Stock Down 0.4%

Shares of CTKB traded down $0.01 during mid-day trading on Friday, hitting $2.67. 1,443,207 shares of the company traded hands, compared to its average volume of 726,920. The company has a market capitalization of $338.18 million, a PE ratio of -33.37 and a beta of 1.42. The business has a 50 day moving average of $3.73 and a 200 day moving average of $5.18. Cytek Biosciences, Inc. has a 1-year low of $2.52 and a 1-year high of $7.63.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.05). The company had revenue of $41.46 million for the quarter, compared to analyst estimates of $43.18 million. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. As a group, research analysts expect that Cytek Biosciences, Inc. will post -0.06 EPS 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.