UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $967,000 Stake in Cytek Biosciences, Inc. (NASDAQ:CTKB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 12.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 174,625 shares of the company’s stock after selling 24,528 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cytek Biosciences were worth $967,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CTKB. The Manufacturers Life Insurance Company boosted its position in Cytek Biosciences by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,003 shares of the company’s stock valued at $357,000 after buying an additional 2,460 shares during the last quarter. Everence Capital Management Inc. increased its position in shares of Cytek Biosciences by 20.9% during the third quarter. Everence Capital Management Inc. now owns 16,760 shares of the company’s stock worth $93,000 after acquiring an additional 2,900 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Cytek Biosciences by 6.8% during the third quarter. Louisiana State Employees Retirement System now owns 51,500 shares of the company’s stock worth $285,000 after acquiring an additional 3,300 shares during the period. Thrivent Financial for Lutherans increased its holdings in Cytek Biosciences by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 83,648 shares of the company’s stock worth $463,000 after purchasing an additional 4,096 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Cytek Biosciences by 8.0% in the third quarter. State of Alaska Department of Revenue now owns 60,785 shares of the company’s stock valued at $336,000 after purchasing an additional 4,521 shares in the last quarter. 69.46% of the stock is owned by institutional investors.

Cytek Biosciences Stock Down 3.0 %

Shares of Cytek Biosciences stock opened at $6.24 on Thursday. The stock has a market cap of $803.78 million, a P/E ratio of -77.99 and a beta of 1.46. Cytek Biosciences, Inc. has a 12-month low of $4.66 and a 12-month high of $9.87. The business’s 50 day moving average is $6.01 and its 200-day moving average is $5.77.

Cytek Biosciences (NASDAQ:CTKB) last issued its earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $51.50 million for the quarter, compared to analysts’ expectations of $50.63 million. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. During the same period in the prior year, the firm earned ($0.03) EPS. On average, sell-side analysts expect that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.