Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 114.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,704 shares of the company’s stock after acquiring an additional 26,567 shares during the period. Intech Investment Management LLC’s holdings in Cytek Biosciences were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Cytek Biosciences by 280.3% during the 4th quarter. GAMMA Investing LLC now owns 4,932 shares of the company’s stock worth $32,000 after purchasing an additional 3,635 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Cytek Biosciences by 111.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company’s stock worth $57,000 after acquiring an additional 4,665 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Cytek Biosciences during the 4th quarter valued at about $71,000. Cibc World Markets Corp acquired a new stake in Cytek Biosciences in the 4th quarter valued at about $74,000. Finally, Bailard Inc. purchased a new position in Cytek Biosciences in the 4th quarter worth approximately $123,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTKB. The Goldman Sachs Group set a $5.25 price target on Cytek Biosciences in a research report 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 price target on 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 Stock Performance

CTKB opened at $4.10 on Wednesday. The stock has a market capitalization of $525.20 million, a PE ratio of -51.24 and a beta of 1.41. Cytek Biosciences, Inc. has a one year low of $4.00 and a one year high of $7.63. The business’s 50 day moving average price is $5.01 and its 200 day moving average price is $5.61.

Cytek Biosciences announced that its Board of Directors has initiated a share repurchase program on Monday, December 30th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management 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.