Susquehanna International Group LLP Buys 625,695 Shares of Cytek Biosciences, Inc. $CTKB

Key Points

• Susquehanna International Group increased its Cytek Biosciences stake by 1,117.1%, purchasing 625,695 additional shares and ending the quarter with 681,705 shares worth approximately $3.02 million.
• Institutional investors and hedge funds own 69.46% of Cytek Biosciences. The stock opened at $4.68, with a market capitalization of about $608 million and a 52-week range of $3.28 to $6.18.
• Cytek reported quarterly revenue of $48.14 million and an adjusted loss of $0.09 per share, matching analyst expectations. Analysts maintain a consensus “Hold” rating with an average price target of $5.56.

Susquehanna International Group LLP raised its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 1,117.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 681,705 shares of the company's stock after buying an additional 625,695 shares during the period. Susquehanna International Group LLP owned 0.52% of Cytek Biosciences worth $3,020,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CTKB. SBI Securities Co. Ltd. increased its holdings in Cytek Biosciences by 99.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 5,010 shares of the company's stock worth $25,000 after purchasing an additional 2,500 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Cytek Biosciences by 150.9% during the second quarter. Federated Hermes Inc. now owns 7,221 shares of the company's stock worth $25,000 after purchasing an additional 4,343 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Cytek Biosciences by 86.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,144 shares of the company's stock worth $26,000 after purchasing an additional 2,388 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Cytek Biosciences in the second quarter valued at approximately $29,000. Finally, CIBC Bancorp USA Inc. bought a new position in Cytek Biosciences in the 3rd quarter valued at approximately $43,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Cytek Biosciences Stock Performance

Shares of Cytek Biosciences stock opened at $4.68 on Monday. The business has a 50-day moving average price of $4.51 and a two-hundred day moving average price of $4.36. Cytek Biosciences, Inc. has a 1-year low of $3.28 and a 1-year high of $6.18. The company has a market cap of $608.32 million, a P/E ratio of -7.55 and a beta of 1.17.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.09). The business had revenue of $48.14 million during the quarter, compared to the consensus estimate of $47.31 million. Cytek Biosciences had a negative return on equity of 12.40% and a negative net margin of 38.98%. Equities research analysts forecast that Cytek Biosciences, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Cytek Biosciences in a research report on Wednesday, June 24th. Stephens reduced their price objective on shares of Cytek Biosciences from $5.50 to $4.75 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Finally, Morgan Stanley set a $5.00 price objective on Cytek Biosciences in a report on Friday, August 7th. Three research 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 company presently has an average rating of "Hold" and an average price target of $5.56.

Cytek Biosciences Company Profile

Cytek Biosciences is a biotechnology company specializing in innovative cell analysis solutions. The firm develops and commercializes advanced spectral flow cytometry instruments and associated reagents designed to enable high-parameter single-cell analysis. Its technology platform offers researchers and clinicians enhanced sensitivity, resolution and flexibility compared to traditional flow cytometry methods.

The company's core product portfolio includes the Aurora and Northern Lights spectral cytometry systems, which support simultaneous detection of up to 64 fluorescence parameters.

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