Goldman Sachs Group Inc. Reduces Holdings in Cytek Biosciences, Inc. $CTKB

Key Points

• Goldman Sachs Group Inc. has reduced its shareholding in Cytek Biosciences, Inc. by 13.7%, now owning approximately 1,158,001 shares worth $4,644,000.
• Several institutional investors, including Voya Investment Management and Jane Street Group, have significantly increased their stakes in Cytek Biosciences during the first quarter.
• Analyst ratings for the stock include two Buy ratings and one Sell rating, with Morgan Stanley lowering its target price from $9.00 to $7.00, indicating a consensus target price of $5.60.

Goldman Sachs Group Inc. lowered its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,158,001 shares of the company's stock after selling 183,751 shares during the period. Goldman Sachs Group Inc. owned approximately 0.91% of Cytek Biosciences worth $4,644,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $448,000 after buying an additional 2,373 shares during the period. SlateStone Wealth LLC grew its stake in shares of Cytek Biosciences by 18.9% in the first 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 last quarter. New York State Teachers Retirement System grew its stake in shares of Cytek Biosciences by 6.8% in the first quarter. New York State Teachers Retirement System now owns 48,463 shares of the company's stock worth $194,000 after purchasing an additional 3,100 shares during the last quarter. Invesco Ltd. grew its stake in shares of Cytek Biosciences by 3.0% in the first quarter. Invesco Ltd. now owns 336,953 shares of the company's stock worth $1,351,000 after purchasing an additional 9,893 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in Cytek Biosciences by 992,200.0% during the 1st quarter. Brooklyn Investment Group now owns 9,923 shares of the company's stock valued at $40,000 after acquiring an additional 9,922 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company's stock.

Analyst Ratings Changes

Separately, Morgan Stanley cut their price objective on Cytek Biosciences from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $5.60.

Cytek Biosciences Price Performance

Shares of NASDAQ CTKB traded down $0.31 during mid-day trading on Friday, hitting $3.78. 1,986,234 shares of the company's stock traded hands, compared to its average volume of 937,092. Cytek Biosciences, Inc. has a 1 year low of $2.37 and a 1 year high of $7.63. The company has a market capitalization of $480.89 million, a P/E ratio of -75.60 and a beta of 1.36. The company's 50-day moving average is $3.83 and its two-hundred day moving average is $3.63.

About Cytek Biosciences

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.