Acuitas Investments LLC Takes Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Acuitas Investments LLC bought a new stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 331,219 shares of the company's stock, valued at approximately $1,328,000. Acuitas Investments LLC owned 0.26% of Cytek Biosciences at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CTKB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cytek Biosciences by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,074 shares of the company's stock worth $448,000 after acquiring an additional 2,373 shares during the period. State of Tennessee Department of Treasury lifted its position in shares of Cytek Biosciences by 4.4% during the 4th quarter. State of Tennessee Department of Treasury now owns 70,502 shares of the company's stock valued at $458,000 after acquiring an additional 3,003 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Cytek Biosciences by 6.8% during the first quarter. New York State Teachers Retirement System now owns 48,463 shares of the company's stock valued at $194,000 after purchasing an additional 3,100 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of 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 during the period. Finally, Principal Financial Group Inc. boosted its stake in Cytek Biosciences by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 506,925 shares of the company's stock worth $3,290,000 after purchasing an additional 3,753 shares during the period. Institutional investors and hedge funds own 69.46% of the company's stock.

Cytek Biosciences Trading Up 4.2%

CTKB stock traded up $0.15 during trading on Friday, hitting $3.76. 776,901 shares of the stock traded hands, compared to its average volume of 824,273. The stock has a market cap of $476.24 million, a price-to-earnings ratio of -41.77 and a beta of 1.33. Cytek Biosciences, Inc. has a one year low of $2.37 and a one year high of $7.63. The company has a 50 day simple moving average of $3.19 and a 200 day simple moving average of $4.38.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $41.46 million for the quarter, compared to analyst estimates of $43.18 million. Cytek Biosciences had a negative return on equity of 2.90% and a negative net margin of 5.71%. As a group, analysts predict that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTKB. Stephens reaffirmed an "overweight" rating and issued a $6.00 price target on shares of Cytek Biosciences in a research note on Wednesday, March 19th. 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 research report on Friday, May 9th. Morgan Stanley decreased their target price on Cytek Biosciences from $9.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group decreased their price target on shares of Cytek Biosciences from $3.50 to $3.00 and set a "sell" rating on the stock in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $5.60.

Insider Activity at Cytek Biosciences

In other Cytek Biosciences news, CFO William D. Mccombe purchased 35,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $2.78 per share, with a total value of $97,300.00. Following the completion of the acquisition, the chief financial officer directly owned 55,746 shares of the company's stock, valued at $154,973.88. This represents a 168.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.33% of the company's stock.

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.