Vanguard Group Inc. Has $38.58 Million Stock Position in Cytek Biosciences, Inc. $CTKB

Key Points

• Vanguard Group Inc. reduced its stake in Cytek Biosciences, selling 2,094,835 shares, resulting in a total ownership of 9,622,008 shares, which represents 7.54% of the company valued at approximately $38.6 million.
• Various institutional investors have made significant adjustments to their holdings in Cytek, with 69.46% of the company's stock now owned by institutions.
• Recent analyst ratings for Cytek Biosciences include downgrades from TD Cowen and Morgan Stanley, with a consensus rating of "Hold" and an average price target of $5.60.

Vanguard Group Inc. lessened its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,622,008 shares of the company's stock after selling 2,094,835 shares during the quarter. Vanguard Group Inc. owned approximately 7.54% of Cytek Biosciences worth $38,584,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CTKB. Aquatic Capital Management LLC acquired a new stake in shares of Cytek Biosciences in the 4th quarter valued at approximately $25,000. US Bancorp DE boosted its holdings in shares of Cytek Biosciences by 9,698.2% in the 1st quarter. US Bancorp DE now owns 10,680 shares of the company's stock valued at $43,000 after buying an additional 10,571 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Cytek Biosciences during the 1st quarter valued at $63,000. Corton Capital Inc. acquired a new stake in Cytek Biosciences during the 1st quarter valued at $65,000. Finally, CWM LLC boosted its position in Cytek Biosciences by 1,637.7% during the first quarter. CWM LLC now owns 18,020 shares of the company's stock worth $72,000 after purchasing an additional 16,983 shares during the period. Institutional investors and hedge funds own 69.46% of the company's stock.

Cytek Biosciences Stock Down 0.7%

Shares of CTKB traded down $0.03 during midday trading on Monday, reaching $4.14. 735,856 shares of the stock were exchanged, compared to its average volume of 1,120,569. Cytek Biosciences, Inc. has a twelve month low of $2.37 and a twelve month high of $7.63. The company has a market cap of $526.69 million, a P/E ratio of -82.80 and a beta of 1.36. The stock's 50 day simple moving average is $3.70 and its 200 day simple moving average is $3.71.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTKB. The Goldman Sachs Group cut their target price 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. Morgan Stanley cut their target price 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. Finally, TD Cowen cut shares of Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 target price for the company. in a research note on Friday, May 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $5.60.

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.