Caxton Associates LLP Invests $409,000 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) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 101,894 shares of the company's stock, valued at approximately $409,000. Caxton Associates LLP owned 0.08% of Cytek Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group increased its position in shares of Cytek Biosciences by 992,200.0% during the first quarter. Brooklyn Investment Group now owns 9,923 shares of the company's stock worth $40,000 after acquiring an additional 9,922 shares during the period. US Bancorp DE boosted its stake in shares of Cytek Biosciences by 9,698.2% during the first quarter. US Bancorp DE now owns 10,680 shares of the company's stock valued at $43,000 after purchasing an additional 10,571 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Cytek Biosciences during the first quarter valued at approximately $63,000. Corton Capital Inc. bought a new position in shares of Cytek Biosciences during the first quarter valued at approximately $65,000. Finally, CWM LLC boosted its stake in shares of Cytek Biosciences by 1,637.7% during the first quarter. CWM LLC now owns 18,020 shares of the company's stock valued at $72,000 after purchasing an additional 16,983 shares in the last quarter. 69.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley dropped their price objective on shares of Cytek Biosciences from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $5.60.

Cytek Biosciences Stock Down 4.6%

Shares of CTKB opened at $3.94 on Friday. The company has a market cap of $501.25 million, a price-to-earnings ratio of -78.80 and a beta of 1.36. Cytek Biosciences, Inc. has a twelve month low of $2.37 and a twelve month high of $7.63. The company has a 50 day moving average of $3.79 and a two-hundred day moving average of $3.65.

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.

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