Northern Trust Corp Boosts Stake in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Northern Trust Corp boosted its position in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 11.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,188,331 shares of the company's stock after purchasing an additional 121,268 shares during the quarter. Northern Trust Corp owned about 0.92% of Cytek Biosciences worth $7,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTKB. Principal Financial Group Inc. grew its holdings in shares of Cytek Biosciences by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 506,925 shares of the company's stock worth $3,290,000 after buying an additional 3,753 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Cytek Biosciences by 58.3% during the fourth quarter. JPMorgan Chase & Co. now owns 947,683 shares of the company's stock worth $6,150,000 after acquiring an additional 349,146 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Cytek Biosciences in the 4th quarter worth approximately $196,000. Charles Schwab Investment Management Inc. raised its holdings in Cytek Biosciences by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,062,990 shares of the company's stock valued at $6,899,000 after acquiring an additional 32,028 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Cytek Biosciences by 19.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,189 shares of the company's stock valued at $307,000 after acquiring an additional 7,686 shares during the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Cytek Biosciences Trading Down 1.0%

Shares of CTKB traded down $0.03 during mid-day trading on Friday, reaching $2.43. The company had a trading volume of 391,318 shares, compared to its average volume of 733,154. Cytek Biosciences, Inc. has a fifty-two week low of $2.36 and a fifty-two week high of $7.63. The firm has a fifty day simple moving average of $3.60 and a 200-day simple moving average of $5.11. The stock has a market cap of $307.15 million, a price-to-earnings ratio of -30.31 and a beta of 1.42.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.05). The firm had revenue of $41.46 million during the quarter, compared to analyst estimates of $43.18 million. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. As a group, equities analysts predict that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTKB. Stephens restated an "overweight" rating and set a $6.00 price objective on shares of Cytek Biosciences in a report on Wednesday, March 19th. TD Cowen lowered Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research note on Friday, May 9th. Piper Sandler lowered their price target on Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group dropped 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 note on Monday, May 12th.

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.