BNP Paribas Financial Markets Takes Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

BNP Paribas Financial Markets bought a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 208,664 shares of the company's stock, valued at approximately $1,354,000. BNP Paribas Financial Markets owned about 0.16% of Cytek Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Cytek Biosciences by 58.3% in the fourth quarter. JPMorgan Chase & Co. now owns 947,683 shares of the company's stock valued at $6,150,000 after buying an additional 349,146 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Cytek Biosciences by 159.6% in the 4th quarter. Royce & Associates LP now owns 470,819 shares of the company's stock valued at $3,056,000 after acquiring an additional 289,425 shares during the period. Dimensional Fund Advisors LP raised its position in Cytek Biosciences by 16.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,830,432 shares of the company's stock valued at $11,880,000 after purchasing an additional 262,607 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Cytek Biosciences by 118.6% during the 4th quarter. Renaissance Technologies LLC now owns 462,600 shares of the company's stock worth $3,002,000 after purchasing an additional 251,000 shares during the period. Finally, Topline Capital Management LLC acquired a new stake in Cytek Biosciences during the 4th quarter worth $1,536,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Cytek Biosciences Trading Up 0.7%

Shares of CTKB opened at $2.69 on Tuesday. The stock's 50 day moving average is $3.71 and its two-hundred day moving average is $5.17. Cytek Biosciences, Inc. has a twelve month low of $2.52 and a twelve month high of $7.63. The firm has a market capitalization of $340.71 million, a PE ratio of -33.62 and a beta of 1.42.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) EPS 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 business had revenue of $41.46 million during the quarter, compared to analyst estimates of $43.18 million. On average, sell-side analysts predict that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

Analyst Ratings Changes

CTKB has been the subject of a number of research reports. 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. TD Cowen cut 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. The Goldman Sachs Group reduced their price objective on Cytek Biosciences from $3.50 to $3.00 and set a "sell" rating for the company in a research note on Monday, May 12th. Finally, Stephens reiterated an "overweight" rating and issued a $6.00 target price on shares of Cytek Biosciences in a research note on Wednesday, March 19th.

Cytek Biosciences Company 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.

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