New York State Common Retirement Fund Raises Stake in Cytek Biosciences, Inc. (NASDAQ:CTKB)

New York State Common Retirement Fund boosted its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,947,986 shares of the company's stock after purchasing an additional 599,971 shares during the quarter. New York State Common Retirement Fund owned 2.17% of Cytek Biosciences worth $26,886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in shares of Cytek Biosciences in the fourth quarter valued at approximately $36,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Cytek Biosciences by 18.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 29,450 shares of the company's stock valued at $163,000 after buying an additional 4,500 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Cytek Biosciences by 17.6% in the third quarter. Maryland State Retirement & Pension System now owns 36,661 shares of the company's stock valued at $202,000 after buying an additional 5,476 shares during the period. Amalgamated Bank boosted its holdings in shares of Cytek Biosciences by 14.0% in the third quarter. Amalgamated Bank now owns 48,488 shares of the company's stock valued at $268,000 after buying an additional 5,957 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in shares of Cytek Biosciences by 13.8% in the third quarter. Yousif Capital Management LLC now owns 49,451 shares of the company's stock valued at $273,000 after buying an additional 5,990 shares during the period. Institutional investors and hedge funds own 69.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CTKB. The Goldman Sachs Group increased their target price on shares of Cytek Biosciences from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. Piper Sandler reduced their target price on shares of Cytek Biosciences from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Cytek Biosciences has a consensus rating of "Moderate Buy" and an average target price of $9.00.

Insider Buying and Selling at Cytek Biosciences

In other Cytek Biosciences news, CTO Ming Yan sold 20,000 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $5.87, for a total value of $117,400.00. Following the completion of the sale, the chief technology officer now owns 5,988,502 shares in the company, valued at $35,152,506.74. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 41,900 shares of company stock worth $266,100 over the last quarter. 15.90% of the stock is currently owned by insiders.

Cytek Biosciences Price Performance

CTKB stock traded up $0.13 during trading hours on Friday, reaching $5.76. The stock had a trading volume of 277,809 shares, compared to its average volume of 674,649. The stock has a market capitalization of $753.55 million, a PE ratio of -64.00 and a beta of 1.37. The stock has a 50-day simple moving average of $6.96 and a 200 day simple moving average of $7.09. Cytek Biosciences, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $12.31.

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

Cytek Biosciences 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.