Caxton Associates LLP Takes $409,000 Position in Cytek Biosciences, Inc. $CTKB

Key Points

• Caxton Associates LLP acquired 101,894 shares of Cytek Biosciences, valued at approximately $409,000, representing 0.08% of the company's stock as of its most recent SEC filing.
• Several institutional investors significantly increased their holdings in Cytek Biosciences during the first quarter, with 69.46% of the stock now owned by hedge funds and other institutional investors.
• Morgan Stanley lowered its price target for Cytek Biosciences from $9.00 to $7.00, while the current consensus rating for the stock is a "Hold" with a target price of $5.60.

Caxton Associates LLP bought a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 101,894 shares of the company's stock, valued at approximately $409,000. Caxton Associates LLP owned approximately 0.08% of Cytek Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. purchased a new position in Cytek Biosciences during the first quarter worth about $2,841,000. AQR Capital Management LLC grew its position in Cytek Biosciences by 394.4% during the first quarter. AQR Capital Management LLC now owns 653,277 shares of the company's stock worth $2,620,000 after buying an additional 521,135 shares in the last quarter. PDT Partners LLC purchased a new position in Cytek Biosciences during the first quarter worth about $538,000. Panagora Asset Management Inc. grew its position in Cytek Biosciences by 222.0% during the first quarter. Panagora Asset Management Inc. now owns 408,926 shares of the company's stock worth $1,640,000 after buying an additional 281,928 shares in the last quarter. Finally, Topline Capital Management LLC grew its position in Cytek Biosciences by 521.6% during the first quarter. Topline Capital Management LLC now owns 1,470,775 shares of the company's stock worth $5,898,000 after buying an additional 1,234,179 shares in the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Cytek Biosciences Trading Up 4.3%

Shares of CTKB traded up $0.17 during midday trading on Thursday, reaching $4.09. The stock had a trading volume of 718,969 shares, compared to its average volume of 929,497. The company's 50-day moving average is $3.82 and its 200 day moving average is $3.64. Cytek Biosciences, Inc. has a 12-month low of $2.37 and a 12-month high of $7.63. The company has a market capitalization of $520.33 million, a price-to-earnings ratio of -81.80 and a beta of 1.36.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reduced their target price on Cytek Biosciences from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cytek Biosciences currently has an average rating of "Hold" and an average price target of $5.60.

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.