Cytek Biosciences, Inc. (NASDAQ:CTKB) CFO William D. Mccombe Purchases 35,000 Shares

Cytek Biosciences, Inc. (NASDAQ:CTKB - Get Free Report) CFO William D. Mccombe purchased 35,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $2.78 per share, for a total transaction of $97,300.00. Following the completion of the transaction, the chief financial officer now owns 55,746 shares of the company's stock, valued at $154,973.88. The trade was a 168.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cytek Biosciences Stock Performance

CTKB traded up $0.10 during trading on Friday, reaching $3.44. 1,565,061 shares of the company's stock were exchanged, compared to its average volume of 786,937. The company's fifty day moving average price is $3.32 and its 200-day moving average price is $4.83. Cytek Biosciences, Inc. has a fifty-two week low of $2.37 and a fifty-two week high of $7.63. The firm has a market capitalization of $435.71 million, a PE ratio of -42.99 and a beta of 1.26.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.05). Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. The business had revenue of $41.46 million for the quarter, compared to analyst estimates of $43.18 million. Research analysts forecast that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Cytek Biosciences

A number of institutional investors have recently bought and sold shares of CTKB. Pacer Advisors Inc. acquired a new stake in Cytek Biosciences during the 4th quarter worth $196,000. Principal Financial Group Inc. grew its holdings in shares of Cytek Biosciences by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 506,925 shares of the company's stock valued at $3,290,000 after buying an additional 3,753 shares during the period. Olympiad Research LP grew its holdings in shares of Cytek Biosciences by 51.0% in the 4th quarter. Olympiad Research LP now owns 19,601 shares of the company's stock valued at $127,000 after buying an additional 6,617 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Cytek Biosciences by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 730,709 shares of the company's stock valued at $4,742,000 after buying an additional 11,665 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Cytek Biosciences in the 4th quarter valued at $71,000. Institutional investors and hedge funds own 69.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced 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. Stephens restated an "overweight" rating and set a $6.00 price target on shares of Cytek Biosciences in a research note on Wednesday, March 19th. 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. Piper Sandler cut their target price on shares of Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Finally, Morgan Stanley dropped 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 report on Wednesday, May 28th. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.60.

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.