Free Trial

Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Sold by Wellington Management Group LLP

Cytek Biosciences logo with Medical background

Wellington Management Group LLP lowered its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,517,214 shares of the company's stock after selling 489,925 shares during the quarter. Wellington Management Group LLP owned approximately 1.18% of Cytek Biosciences worth $9,847,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Cytek Biosciences by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,830,432 shares of the company's stock worth $11,880,000 after purchasing an additional 262,607 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Cytek Biosciences by 11.4% during the fourth quarter. Northern Trust Corp now owns 1,188,331 shares of the company's stock valued at $7,712,000 after acquiring an additional 121,268 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cytek Biosciences by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,062,990 shares of the company's stock valued at $6,899,000 after acquiring an additional 32,028 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Cytek Biosciences by 58.3% during the fourth quarter. JPMorgan Chase & Co. now owns 947,683 shares of the company's stock valued at $6,150,000 after acquiring an additional 349,146 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Cytek Biosciences by 321.8% during the fourth quarter. Millennium Management LLC now owns 803,923 shares of the company's stock valued at $5,217,000 after acquiring an additional 613,314 shares during the last quarter. Hedge funds and other institutional investors own 69.46% of the company's stock.

Insiders Place Their Bets

In related news, CFO William D. Mccombe bought 35,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average cost of $2.78 per share, for a total transaction of $97,300.00. Following the completion of the acquisition, the chief financial officer now owns 55,746 shares in the company, valued at approximately $154,973.88. This trade represents a 168.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.33% of the stock is owned by insiders.

Cytek Biosciences Price Performance

Shares of NASDAQ:CTKB traded up $0.10 during midday trading on Friday, hitting $3.44. The company had a trading volume of 1,565,061 shares, compared to its average volume of 786,680. Cytek Biosciences, Inc. has a twelve month low of $2.37 and a twelve month high of $7.63. The stock has a market cap of $435.71 million, a price-to-earnings ratio of -42.99 and a beta of 1.26. The business's 50-day simple moving average is $3.32 and its 200-day simple moving average is $4.83.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) EPS 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 company had revenue of $41.46 million during the quarter, compared to analyst estimates of $43.18 million. As a group, sell-side analysts forecast that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on CTKB shares. The Goldman Sachs Group reduced their target price on Cytek Biosciences from $3.50 to $3.00 and set a "sell" rating for the company in a report on Monday, May 12th. TD Cowen cut Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 target price for the company. in a report on Friday, May 9th. Stephens reissued an "overweight" rating and set a $6.00 target price on shares of Cytek Biosciences in a report on Wednesday, March 19th. Morgan Stanley reduced their target price on Cytek Biosciences from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, May 28th. Finally, Piper Sandler reduced their target price on Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Cytek Biosciences has a consensus rating of "Hold" and a consensus target price of $5.60.

View Our Latest Research Report on CTKB

Cytek Biosciences Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Cytek Biosciences (NASDAQ:CTKB)

Should You Invest $1,000 in Cytek Biosciences Right Now?

Before you consider Cytek Biosciences, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cytek Biosciences wasn't on the list.

While Cytek Biosciences currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks That Could Be Bigger Than Tesla, Nvidia, and Google Cover

Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Defense Stocks Under $10 With Massive Upside
NVIDIA: Another 200% Growth Ahead? (PLUS 2 Companies Riding Along)
3 Rising Stocks You’ll Want on Your Watchlist

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines