Raymond James Financial Inc. Takes $765,000 Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Raymond James Financial Inc. bought a new stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 117,870 shares of the company's stock, valued at approximately $765,000. Raymond James Financial Inc. owned 0.09% of Cytek Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CTKB. Charles Schwab Investment Management Inc. grew its holdings in Cytek Biosciences by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,062,990 shares of the company's stock worth $6,899,000 after acquiring an additional 32,028 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Cytek Biosciences by 58.3% in the 4th quarter. JPMorgan Chase & Co. now owns 947,683 shares of the company's stock valued at $6,150,000 after buying an additional 349,146 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Cytek Biosciences by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 730,709 shares of the company's stock valued at $4,742,000 after acquiring an additional 11,665 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Cytek Biosciences by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 506,925 shares of the company's stock worth $3,290,000 after buying an additional 3,753 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Cytek Biosciences by 159.6% in the 4th quarter. Royce & Associates LP now owns 470,819 shares of the company's stock valued at $3,056,000 after acquiring an additional 289,425 shares in the last quarter. Institutional investors own 69.46% of the company's stock.

Cytek Biosciences Stock Down 23.0 %

NASDAQ CTKB traded down $0.87 during trading hours on Friday, reaching $2.92. 2,223,253 shares of the company were exchanged, compared to its average volume of 717,075. The stock has a market capitalization of $372.59 million, a P/E ratio of -36.50 and a beta of 1.42. Cytek Biosciences, Inc. has a 1 year low of $2.87 and a 1 year high of $7.63. The business's 50 day simple moving average is $3.90 and its 200-day simple moving average is $5.25.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last issued its quarterly earnings results 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 return on equity of 2.58% and a negative net margin of 5.05%. As a group, sell-side analysts anticipate that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTKB shares. TD Cowen downgraded Cytek Biosciences from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a report on Friday. Piper Sandler dropped their price target on shares of Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. Stephens reaffirmed an "overweight" rating and issued a $6.00 price objective on shares of Cytek Biosciences in a research report on Wednesday, March 19th. Finally, The Goldman Sachs Group set a $5.25 target price on shares of Cytek Biosciences in a research report on Sunday, February 2nd.

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.