Millennium Management LLC Acquires 613,314 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Millennium Management LLC lifted its holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 321.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 803,923 shares of the company's stock after acquiring an additional 613,314 shares during the period. Millennium Management LLC owned approximately 0.62% of Cytek Biosciences worth $5,217,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cytek Biosciences by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,074 shares of the company's stock valued at $448,000 after acquiring an additional 2,373 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Cytek Biosciences in the fourth quarter valued at about $122,000. Graham Capital Management L.P. grew its stake in shares of Cytek Biosciences by 168.3% in the fourth quarter. Graham Capital Management L.P. now owns 27,418 shares of the company's stock valued at $178,000 after acquiring an additional 17,198 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Cytek Biosciences by 54.8% in the fourth quarter. Deutsche Bank AG now owns 103,182 shares of the company's stock valued at $670,000 after acquiring an additional 36,542 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Cytek Biosciences in the fourth quarter valued at about $757,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTKB has been the topic of several research reports. Piper Sandler decreased their price target on shares of Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley cut their price objective on shares of 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. TD Cowen cut shares of Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price objective for the company. in a research report on Friday, May 9th. The Goldman Sachs Group cut their price objective on shares of Cytek Biosciences from $3.50 to $3.00 and set a "sell" rating for the company in a research report on Monday, May 12th. Finally, Stephens reaffirmed an "overweight" rating and set a $6.00 price objective on shares of Cytek Biosciences in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $5.60.

Cytek Biosciences Stock Up 2.2%

Shares of CTKB stock traded up $0.06 on Monday, reaching $2.83. The company had a trading volume of 2,719,469 shares, compared to its average volume of 759,550. The stock has a market capitalization of $358.44 million, a PE ratio of -35.37 and a beta of 1.42. Cytek Biosciences, Inc. has a one year low of $2.37 and a one year high of $7.63. The business's 50-day moving average is $3.38 and its 200 day moving average is $4.89.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.05). The company 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 2.58% and a negative net margin of 5.05%. On average, sell-side analysts forecast that Cytek Biosciences, Inc. will post -0.06 earnings per share 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.