Cibc World Markets Corp Invests $74,000 in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Cibc World Markets Corp purchased a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,358 shares of the company’s stock, valued at approximately $74,000.

Other large investors have also recently bought and sold shares of the company. Royce & Associates LP lifted its holdings in shares of Cytek Biosciences by 159.6% during the fourth 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 during the period. Globeflex Capital L P acquired a new stake in shares of Cytek Biosciences during the 4th quarter worth about $548,000. PNC Financial Services Group Inc. lifted its holdings in Cytek Biosciences by 111.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company’s stock valued at $57,000 after purchasing an additional 4,665 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Cytek Biosciences in the fourth quarter valued at about $765,000. Finally, Proficio Capital Partners LLC bought a new stake in Cytek Biosciences during the fourth quarter worth about $71,000. 69.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CTKB shares. The Goldman Sachs Group set a $5.25 target price on Cytek Biosciences in a report on Sunday, February 2nd. Stephens reiterated an “overweight” rating and issued a $6.00 price objective on shares of Cytek Biosciences in a research report on Wednesday, March 19th. Finally, Piper Sandler decreased their target price 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 Trading Up 0.5 %

Shares of CTKB stock opened at $4.10 on Friday. Cytek Biosciences, Inc. has a 1 year low of $4.00 and a 1 year high of $7.63. The firm’s 50 day moving average is $4.95 and its 200-day moving average is $5.59. The firm has a market capitalization of $525.20 million, a price-to-earnings ratio of -51.24 and a beta of 1.41.

Cytek Biosciences declared that its Board of Directors has approved a share buyback plan on Monday, December 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.