XTX Topco Ltd Purchases 149,373 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Key Points

• XTX Topco Ltd significantly increased its stake in Cytek Biosciences by 714.5%, acquiring an additional 149,373 shares, bringing its total holdings to 170,279 shares valued at approximately $683,000.
• Cytek Biosciences reported a loss of $0.09 per share for the last quarter, missing analysts’ expectations, and had a revenue of $41.46 million, which was below estimates of $43.18 million.
• Wall Street analysts have mixed ratings on Cytek Biosciences, with a consensus rating of "Hold" and an average price target of $5.60, after several price objectives were reduced by major firms.

XTX Topco Ltd boosted its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 714.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,279 shares of the company's stock after acquiring an additional 149,373 shares during the period. XTX Topco Ltd owned approximately 0.13% of Cytek Biosciences worth $683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in Cytek Biosciences by 799.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,887 shares of the company's stock valued at $25,000 after acquiring an additional 3,455 shares during the period. Aquatic Capital Management LLC acquired a new stake in Cytek Biosciences during the fourth quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Cytek Biosciences during the first quarter valued at approximately $63,000. Corton Capital Inc. acquired a new stake in Cytek Biosciences during the first quarter valued at approximately $65,000. Finally, CWM LLC boosted its holdings in Cytek Biosciences by 1,637.7% during the first quarter. CWM LLC now owns 18,020 shares of the company's stock valued at $72,000 after purchasing an additional 16,983 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors.

Cytek Biosciences Price Performance

Shares of CTKB opened at $3.84 on Tuesday. The company has a market capitalization of $486.37 million, a P/E ratio of -42.66 and a beta of 1.34. Cytek Biosciences, Inc. has a one year low of $2.37 and a one year high of $7.63. The business's 50 day simple moving average is $3.32 and its 200-day simple moving average is $3.91.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last announced its 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). The business had revenue of $41.46 million during the quarter, compared to analyst estimates of $43.18 million. Cytek Biosciences had a negative return on equity of 2.90% and a negative net margin of 5.71%. On average, sell-side analysts anticipate that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Insider Activity at Cytek Biosciences

In related news, CFO William D. Mccombe acquired 35,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $2.78 per share, with a total value of $97,300.00. Following the completion of the purchase, the chief financial officer directly owned 55,746 shares in the company, valued at approximately $154,973.88. This trade represents a 168.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CTKB. The Goldman Sachs Group decreased their price objective on Cytek Biosciences from $3.50 to $3.00 and set a "sell" rating on the stock in a report on Monday, May 12th. Morgan Stanley decreased their price objective on Cytek Biosciences from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Finally, TD Cowen downgraded Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Cytek Biosciences presently has an average rating of "Hold" and an average price target of $5.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.