Cytek Biosciences, Inc. (NASDAQ:CTKB) Stake Lifted by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,188,331 shares of the company's stock after acquiring an additional 121,268 shares during the period. Northern Trust Corp owned about 0.92% of Cytek Biosciences worth $7,712,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CTKB. Aquatic Capital Management LLC acquired a new stake in shares of Cytek Biosciences in the 4th quarter valued at about $25,000. Sterling Capital Management LLC grew its holdings in shares of Cytek Biosciences by 799.8% in the 4th quarter. Sterling Capital Management LLC now owns 3,887 shares of the company's stock valued at $25,000 after acquiring an additional 3,455 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Cytek Biosciences by 111.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company's stock valued at $57,000 after acquiring an additional 4,665 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Cytek Biosciences in the fourth quarter valued at about $71,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Cytek Biosciences in the fourth quarter valued at about $74,000. 69.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CTKB shares. Piper Sandler reduced 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. 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. Stephens reiterated an "overweight" rating and set a $6.00 price target on shares of Cytek Biosciences in a report on Wednesday, March 19th. Finally, The Goldman Sachs Group reduced their price target on Cytek Biosciences from $3.50 to $3.00 and set a "sell" rating for the company in a report on Monday, May 12th.

Cytek Biosciences Price Performance

NASDAQ CTKB traded down $0.03 on Friday, reaching $2.42. The company had a trading volume of 914,867 shares, compared to its average volume of 737,875. The business has a 50 day moving average of $3.57 and a two-hundred day moving average of $5.08. Cytek Biosciences, Inc. has a fifty-two week low of $2.37 and a fifty-two week high of $7.63. The firm has a market cap of $306.51 million, a price-to-earnings ratio of -30.25 and a beta of 1.42.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. The business had revenue of $41.46 million during the quarter, compared to the consensus estimate of $43.18 million. As a group, research analysts predict 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.