Insider Selling: Cytek Biosciences, Inc. (NASDAQ:CTKB) CTO Sells 20,000 Shares of Stock

Cytek Biosciences, Inc. (NASDAQ:CTKB - Get Free Report) CTO Ming Yan sold 20,000 shares of Cytek Biosciences stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $5.87, for a total transaction of $117,400.00. Following the completion of the sale, the chief technology officer now directly owns 5,988,502 shares of the company's stock, valued at approximately $35,152,506.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ming Yan also recently made the following trade(s):

• On Tuesday, April 9th, Ming Yan sold 1,900 shares of Cytek Biosciences stock. The stock was sold at an average price of $7.00, for a total transaction of $13,300.00.
• On Monday, March 18th, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The stock was sold at an average price of $6.77, for a total transaction of $135,400.00.

Cytek Biosciences Trading Up 0.2 %

Shares of CTKB traded up $0.01 during trading hours on Tuesday, reaching $5.81. 376,789 shares of the stock traded hands, compared to its average volume of 736,488. Cytek Biosciences, Inc. has a 52-week low of $3.80 and a 52-week high of $12.31. The company's 50-day moving average price is $7.13 and its two-hundred day moving average price is $7.09. The company has a market cap of $760.06 million, a P/E ratio of -64.55 and a beta of 1.37.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released its earnings results on Wednesday, March 13th. The company reported $0.04 earnings per share for the quarter. Cytek Biosciences had a negative net margin of 6.29% and a negative return on equity of 1.40%. The company had revenue of $58.23 million for the quarter, compared to analysts' expectations of $56.66 million. On average, research analysts forecast that Cytek Biosciences, Inc. will post -0.04 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Cytek Biosciences from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. Piper Sandler dropped their price target on shares of Cytek Biosciences from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cytek Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $9.00.

Institutional Trading of Cytek Biosciences

Several hedge funds have recently bought and sold shares of CTKB. Vanguard Group Inc. lifted its stake in Cytek Biosciences by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 11,890,700 shares of the company's stock worth $108,443,000 after purchasing an additional 811,279 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Cytek Biosciences by 42.5% in the 3rd quarter. New York State Common Retirement Fund now owns 2,348,015 shares of the company's stock worth $12,961,000 after purchasing an additional 700,701 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cytek Biosciences in the 3rd quarter worth $1,261,000. Charles Schwab Investment Management Inc. lifted its stake in Cytek Biosciences by 19.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 835,693 shares of the company's stock worth $4,613,000 after purchasing an additional 136,201 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Cytek Biosciences by 7.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,445,538 shares of the company's stock worth $7,979,000 after purchasing an additional 99,170 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company's stock.

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.

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