Jacobs Levy Equity Management Inc. Takes $2.84 Million Position in Cytek Biosciences, Inc. $CTKB

Key Points

• Jacobs Levy Equity Management Inc. acquired a new position in Cytek Biosciences, purchasing 708,482 shares valued at approximately $2.84 million during the first quarter.
• Analysts have set a new consensus price target of $5.60 for Cytek Biosciences stock, with Morgan Stanley lowering its price objective from $9.00 to $7.00.
• As of the latest report, institutional investors own 69.46% of Cytek Biosciences, indicating strong interest from major investors.

Jacobs Levy Equity Management Inc. bought a new position in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 708,482 shares of the company's stock, valued at approximately $2,841,000. Jacobs Levy Equity Management Inc. owned 0.56% of Cytek Biosciences as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Topline Capital Management LLC increased its holdings in shares of Cytek Biosciences by 521.6% in the first quarter. Topline Capital Management LLC now owns 1,470,775 shares of the company's stock worth $5,898,000 after buying an additional 1,234,179 shares during the period. CenterBook Partners LP bought a new position in Cytek Biosciences during the 1st quarter worth approximately $3,390,000. Millennium Management LLC increased its stake in Cytek Biosciences by 321.8% in the 4th quarter. Millennium Management LLC now owns 803,923 shares of the company's stock worth $5,217,000 after purchasing an additional 613,314 shares during the period. AQR Capital Management LLC lifted its position in Cytek Biosciences by 394.4% in the first quarter. AQR Capital Management LLC now owns 653,277 shares of the company's stock valued at $2,620,000 after purchasing an additional 521,135 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Cytek Biosciences during the fourth quarter valued at approximately $2,527,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered 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 note on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $5.60.

Cytek Biosciences Trading Down 4.1%

Shares of Cytek Biosciences stock opened at $3.93 on Wednesday. Cytek Biosciences, Inc. has a 12-month low of $2.37 and a 12-month high of $7.63. The company has a market cap of $499.97 million, a P/E ratio of -78.60 and a beta of 1.36. The company's fifty day simple moving average is $3.77 and its two-hundred day simple moving average is $3.67.

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.

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