Cytek Biosciences, Inc. (NASDAQ:CTKB - Get Free Report)'s stock price rose 6.6% during trading on Monday . The stock traded as high as $6.14 and last traded at $6.14. Approximately 459,914 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 719,975 shares. The stock had previously closed at $5.76.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on CTKB shares. The Goldman Sachs Group increased their target price on Cytek Biosciences from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Piper Sandler decreased their price target on Cytek Biosciences from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.
Check Out Our Latest Report on Cytek Biosciences
Cytek Biosciences Trading Up 4.7 %
The business's 50-day simple moving average is $6.96 and its two-hundred day simple moving average is $7.10. The company has a market capitalization of $791.50 million, a PE ratio of -67.77 and a beta of 1.37.
Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 13th. The company reported $0.04 EPS for the quarter. Cytek Biosciences had a negative return on equity of 1.40% and a negative net margin of 6.29%. The firm had revenue of $58.23 million during the quarter, compared to the consensus estimate of $56.66 million. On average, analysts forecast that Cytek Biosciences, Inc. will post -0.04 EPS for the current year.
Insider Activity
In other Cytek Biosciences news, CTO Ming Yan sold 20,000 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $6.77, for a total transaction of $135,400.00. Following the completion of the transaction, the chief technology officer now directly owns 6,030,402 shares of the company's stock, valued at approximately $40,825,821.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 41,900 shares of company stock worth $266,100. 15.90% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Cytek Biosciences by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,079,421 shares of the company's stock valued at $61,158,000 after acquiring an additional 461,142 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cytek Biosciences by 19.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 835,693 shares of the company's stock valued at $4,613,000 after purchasing an additional 136,201 shares during the last quarter. Swiss National Bank raised its holdings in shares of Cytek Biosciences by 9.6% during the third quarter. Swiss National Bank now owns 193,900 shares of the company's stock worth $1,070,000 after purchasing an additional 17,000 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Cytek Biosciences by 19.9% in the 3rd quarter. Texas Permanent School Fund Corp now owns 84,520 shares of the company's stock worth $467,000 after buying an additional 14,052 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of 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 buying an additional 99,170 shares during the last quarter. Institutional investors own 69.46% of the company's stock.
Cytek Biosciences Company Profile
(
Get 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.
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