Topline Capital Management LLC Takes $1.54 Million Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Topline Capital Management LLC acquired a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 236,596 shares of the company's stock, valued at approximately $1,536,000. Cytek Biosciences makes up about 0.3% of Topline Capital Management LLC's portfolio, making the stock its 29th largest position. Topline Capital Management LLC owned approximately 0.18% of Cytek Biosciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC boosted its holdings in Cytek Biosciences by 333.6% in the third quarter. Barclays PLC now owns 201,359 shares of the company's stock worth $1,116,000 after acquiring an additional 154,915 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cytek Biosciences by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,668,004 shares of the company's stock worth $14,784,000 after purchasing an additional 89,210 shares in the last quarter. Principal Financial Group Inc. grew its position in Cytek Biosciences by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 506,925 shares of the company's stock valued at $3,290,000 after purchasing an additional 3,753 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Cytek Biosciences by 58.3% during the 4th quarter. JPMorgan Chase & Co. now owns 947,683 shares of the company's stock valued at $6,150,000 after purchasing an additional 349,146 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Cytek Biosciences in the fourth quarter worth about $196,000. Hedge funds and other institutional investors own 69.46% of the company's stock.

Cytek Biosciences Stock Down 1.3 %

NASDAQ CTKB traded down $0.05 on Wednesday, reaching $3.70. The company had a trading volume of 104,359 shares, compared to its average volume of 713,224. The stock has a market capitalization of $473.96 million, a PE ratio of -46.24 and a beta of 1.41. The firm's 50 day moving average price is $4.08 and its 200 day moving average price is $5.34. Cytek Biosciences, Inc. has a 12 month low of $3.27 and a 12 month high of $7.63.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stephens restated an "overweight" rating and issued a $6.00 price target on shares of Cytek Biosciences in a research note on Wednesday, March 19th. Piper Sandler lowered their target price on shares of Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group set a $5.25 price target on shares of Cytek Biosciences in a research note on Sunday, February 2nd.

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.