Raymond James Financial Inc. Takes Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Raymond James Financial Inc. purchased a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 117,870 shares of the company's stock, valued at approximately $765,000. Raymond James Financial Inc. owned about 0.09% of Cytek Biosciences at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Cytek Biosciences by 280.3% in the 4th quarter. GAMMA Investing LLC now owns 4,932 shares of the company's stock valued at $32,000 after buying an additional 3,635 shares during the period. PNC Financial Services Group Inc. increased its stake in Cytek Biosciences by 111.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company's stock valued at $57,000 after buying an additional 4,665 shares during the period. Proficio Capital Partners LLC acquired a new position in Cytek Biosciences in the 4th quarter valued at $71,000. Cibc World Markets Corp acquired a new position in Cytek Biosciences in the 4th quarter valued at $74,000. Finally, Bailard Inc. acquired a new position in Cytek Biosciences in the 4th quarter valued at $123,000. Hedge funds and other institutional investors own 69.46% of the company's stock.

Wall Street Analyst Weigh In

CTKB has been the topic of several recent research reports. TD Cowen cut shares of Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a research note on Friday. The Goldman Sachs Group set a $5.25 price objective on shares of Cytek Biosciences in a research note on Sunday, February 2nd. Stephens restated an "overweight" rating and issued a $6.00 target price on shares of Cytek Biosciences in a report on Wednesday, March 19th. Finally, Piper Sandler reduced their target price on shares of Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th.

Cytek Biosciences Price Performance

NASDAQ CTKB traded up $0.20 during mid-day trading on Monday, hitting $3.13. The company's stock had a trading volume of 79,412 shares, compared to its average volume of 714,660. Cytek Biosciences, Inc. has a 52-week low of $2.81 and a 52-week high of $7.63. The stock's fifty day simple moving average is $3.90 and its two-hundred day simple moving average is $5.26. The firm has a market capitalization of $398.75 million, a P/E ratio of -39.06 and a beta of 1.42.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. On average, equities analysts forecast that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

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.