CenterBook Partners LP Makes New Investment in Cytek Biosciences, Inc. (NASDAQ:CTKB)

CenterBook Partners LP purchased a new position in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 845,405 shares of the company's stock, valued at approximately $3,390,000. CenterBook Partners LP owned approximately 0.66% of Cytek Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 buying an additional 2,373 shares in the last quarter. State of Tennessee Department of Treasury grew its position in shares of Cytek Biosciences by 4.4% during the fourth quarter. State of Tennessee Department of Treasury now owns 70,502 shares of the company's stock valued at $458,000 after purchasing an additional 3,003 shares in the last quarter. SlateStone Wealth LLC lifted its position in shares of Cytek Biosciences by 18.9% in the first quarter. SlateStone Wealth LLC now owns 19,129 shares of the company's stock worth $77,000 after buying an additional 3,041 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Cytek Biosciences by 6.8% in the first quarter. New York State Teachers Retirement System now owns 48,463 shares of the company's stock worth $194,000 after buying an additional 3,100 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake 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 buying an additional 3,455 shares during the last quarter. Hedge funds and other institutional investors own 69.46% of the company's stock.

Cytek Biosciences Stock Down 5.2%

CTKB traded down $0.17 on Friday, hitting $3.13. The company had a trading volume of 714,662 shares, compared to its average volume of 836,154. The company has a market cap of $396.45 million, a PE ratio of -34.77 and a beta of 1.33. Cytek Biosciences, Inc. has a 12-month low of $2.37 and a 12-month high of $7.63. The business's fifty day simple moving average is $3.13 and its 200 day simple moving average is $4.20.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $41.46 million during the quarter, compared to the consensus estimate of $43.18 million. Cytek Biosciences had a negative return on equity of 2.90% and a negative net margin of 5.71%. On average, analysts anticipate that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTKB. TD Cowen lowered Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a research note on Friday, May 9th. Morgan Stanley dropped their price target 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 dropped their price target 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $5.60.

Insider Transactions at Cytek Biosciences

In other news, CFO William D. Mccombe acquired 35,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was acquired at an average price of $2.78 per share, with a total value of $97,300.00. Following the completion of the purchase, the chief financial officer directly owned 55,746 shares in the company, valued at approximately $154,973.88. This trade represents a 168.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.33% of the stock is currently owned by insiders.

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.