Jane Street Group LLC Has $756,000 Stake in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Jane Street Group LLC lowered its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 29.1% during the third quarter, HoldingsChannel reports. The firm owned 136,402 shares of the company’s stock after selling 55,914 shares during the quarter. Jane Street Group LLC’s holdings in Cytek Biosciences were worth $756,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Cytek Biosciences by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,030,962 shares of the company’s stock worth $5,712,000 after buying an additional 113,127 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Cytek Biosciences during the second quarter worth $1,305,000. State Street Corp raised its holdings in shares of Cytek Biosciences by 4.9% during the third quarter. State Street Corp now owns 4,167,501 shares of the company’s stock worth $23,088,000 after acquiring an additional 194,369 shares during the period. Millennium Management LLC lifted its position in Cytek Biosciences by 3,452.2% in the 2nd quarter. Millennium Management LLC now owns 946,490 shares of the company’s stock valued at $5,281,000 after acquiring an additional 919,845 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Cytek Biosciences by 1,013.8% in the 2nd quarter. Squarepoint Ops LLC now owns 187,361 shares of the company’s stock worth $1,045,000 after purchasing an additional 170,539 shares during the period. Institutional investors and hedge funds own 69.46% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price target on Cytek Biosciences from $8.00 to $8.50 and gave the company an “overweight” rating in a research note on Monday, November 11th.

Cytek Biosciences Stock Up 1.2 %

NASDAQ:CTKB opened at $6.57 on Friday. The company has a market cap of $846.29 million, a P/E ratio of -82.11 and a beta of 1.46. Cytek Biosciences, Inc. has a twelve month low of $4.66 and a twelve month high of $9.33. The business has a 50 day moving average price of $6.30 and a two-hundred day moving average price of $5.81.

Cytek Biosciences (NASDAQ:CTKB) last announced its earnings results on Tuesday, November 5th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. The business had revenue of $51.50 million during the quarter, compared to analysts’ expectations of $50.63 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. As a group, analysts anticipate that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Cytek Biosciences announced that its board has initiated a share repurchase plan on Monday, December 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.