Cytek Biosciences, Inc. $CTKB Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Cytek Biosciences by 27.3%, owning 330,914 shares after purchasing an additional 70,970 shares in the first quarter.
• Cytek Biosciences stock has experienced a 0.2% increase, with a current market price of $4.01, while its 12-month low and high are $2.37 and $7.63, respectively.
• Wall Street analysts have shown mixed sentiments, with major firms adjusting price targets, and the stock currently holds a consensus rating of "Hold" with an average target price of $5.60.

Public Sector Pension Investment Board lifted its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,914 shares of the company's stock after purchasing an additional 70,970 shares during the quarter. Public Sector Pension Investment Board owned about 0.26% of Cytek Biosciences worth $1,327,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Aquatic Capital Management LLC purchased a new stake in shares of Cytek Biosciences during the fourth quarter worth approximately $25,000. Sterling Capital Management LLC raised its stake in shares of Cytek Biosciences by 799.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,887 shares of the company's stock worth $25,000 after purchasing an additional 3,455 shares during the last quarter. US Bancorp DE raised 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 worth $43,000 after purchasing an additional 10,571 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cytek Biosciences during the fourth quarter worth approximately $74,000. Finally, Teza Capital Management LLC purchased a new stake in shares of Cytek Biosciences during the fourth quarter worth approximately $75,000. Hedge funds and other institutional investors own 69.46% of the company's stock.

Cytek Biosciences Stock Down 1.7%

CTKB stock traded down $0.07 on Wednesday, reaching $4.09. 803,945 shares of the company's stock were exchanged, compared to its average volume of 1,203,425. The stock has a fifty day moving average of $3.64 and a 200-day moving average of $3.75. Cytek Biosciences, Inc. has a twelve month low of $2.37 and a twelve month high of $7.63. The firm has a market cap of $520.33 million, a PE ratio of -81.80 and a beta of 1.34.

Analyst Ratings Changes

Several equities research analysts have recently commented on CTKB shares. Morgan Stanley cut 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. 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 research note on Friday, May 9th. Finally, The Goldman Sachs Group dropped their price objective on Cytek Biosciences from $3.50 to $3.00 and set a "sell" rating on the stock in a report on Monday, May 12th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.60.

Insiders Place Their Bets

In other Cytek Biosciences news, CFO William D. Mccombe acquired 35,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average price of $2.78 per share, with a total value of $97,300.00. Following the completion of the acquisition, the chief financial officer directly owned 55,746 shares of the company's stock, valued at approximately $154,973.88. The trade was a 168.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 10.33% of the stock is owned by corporate insiders.

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.