Dimensional Fund Advisors LP Buys 262,607 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Dimensional Fund Advisors LP grew its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 16.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,830,432 shares of the company's stock after purchasing an additional 262,607 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.42% of Cytek Biosciences worth $11,880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its position in Cytek Biosciences by 495.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,300 shares of the company's stock worth $93,000 after acquiring an additional 11,900 shares during the period. Barclays PLC raised its holdings in Cytek Biosciences by 7.0% in the 4th quarter. Barclays PLC now owns 215,424 shares of the company's stock worth $1,397,000 after purchasing an additional 14,065 shares during the period. Sterling Capital Management LLC lifted its position in Cytek Biosciences by 799.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,887 shares of the company's stock valued at $25,000 after purchasing an additional 3,455 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Cytek Biosciences during the fourth quarter valued at about $765,000. Finally, Renaissance Technologies LLC increased its position in Cytek Biosciences by 118.6% in the fourth quarter. Renaissance Technologies LLC now owns 462,600 shares of the company's stock worth $3,002,000 after buying an additional 251,000 shares in the last quarter. Institutional investors own 69.46% of the company's stock.

Cytek Biosciences Stock Down 2.0%

NASDAQ CTKB traded down $0.06 during trading on Thursday, hitting $2.68. 362,022 shares of the stock traded hands, compared to its average volume of 719,321. Cytek Biosciences, Inc. has a 12-month low of $2.61 and a 12-month high of $7.63. The firm has a 50-day simple moving average of $3.80 and a 200-day simple moving average of $5.21. The company has a market capitalization of $341.33 million, a P/E ratio of -33.32 and a beta of 1.42.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.05). The business had revenue of $41.46 million during the quarter, compared to analysts' expectations 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 predict that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.