CenterBook Partners LP Invests $3.39 Million in Cytek Biosciences, Inc. (NASDAQ:CTKB)

CenterBook Partners LP acquired a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 845,405 shares of the company's stock, valued at approximately $3,390,000. CenterBook Partners LP owned 0.66% of Cytek Biosciences as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTKB. Charles Schwab Investment Management Inc. raised its position in Cytek Biosciences by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,104,889 shares of the company's stock valued at $4,431,000 after acquiring an additional 41,899 shares in the last quarter. US Bancorp DE grew its stake in shares of Cytek Biosciences by 9,698.2% during the 1st quarter. US Bancorp DE now owns 10,680 shares of the company's stock worth $43,000 after purchasing an additional 10,571 shares during the period. SlateStone Wealth LLC grew its stake in shares of Cytek Biosciences by 18.9% during the 1st quarter. SlateStone Wealth LLC now owns 19,129 shares of the company's stock worth $77,000 after purchasing an additional 3,041 shares during the period. XTX Topco Ltd increased its holdings in shares of Cytek Biosciences by 714.5% during the 1st quarter. XTX Topco Ltd now owns 170,279 shares of the company's stock valued at $683,000 after purchasing an additional 149,373 shares in the last quarter. Finally, Corton Capital Inc. acquired a new position in shares of Cytek Biosciences in the 1st quarter valued at $65,000. Institutional investors and hedge funds own 69.46% of the company's stock.

Insider Buying and Selling at Cytek Biosciences

In related news, CFO William D. Mccombe acquired 35,000 shares of Cytek Biosciences stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $2.78 per share, for a total transaction of $97,300.00. Following the acquisition, the chief financial officer owned 55,746 shares in the company, valued at approximately $154,973.88. This represents a 168.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 10.33% of the company's stock.

Analysts Set New Price Targets

CTKB has been the subject of a number of analyst reports. TD Cowen cut Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a report on Friday, May 9th. 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 report on Wednesday, May 28th. 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. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $5.60.

Cytek Biosciences Trading Down 0.3%

Cytek Biosciences stock traded down $0.01 during midday trading on Wednesday, hitting $3.24. 788,508 shares of the stock were exchanged, compared to its average volume of 835,946. The stock's 50-day simple moving average is $3.14 and its 200 day simple moving average is $4.23. Cytek Biosciences, Inc. has a fifty-two week low of $2.37 and a fifty-two week high of $7.63. The stock has a market capitalization of $410.38 million, a price-to-earnings ratio of -36.00 and a beta of 1.33.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released 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). The firm had revenue of $41.46 million for the quarter, compared to analysts' expectations of $43.18 million. Cytek Biosciences had a negative net margin of 5.71% and a negative return on equity of 2.90%. Equities analysts anticipate that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

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.