Cytek Biosciences, Inc. (NASDAQ:CTKB) Holdings Raised by State Street Corp

State Street Corp boosted its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 4.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,167,501 shares of the company’s stock after buying an additional 194,369 shares during the period. State Street Corp’s holdings in Cytek Biosciences were worth $23,088,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Cytek Biosciences by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,030,962 shares of the company’s stock worth $5,712,000 after acquiring an additional 113,127 shares during the period. Renaissance Technologies LLC acquired a new stake in Cytek Biosciences in the second quarter worth approximately $1,305,000. Millennium Management LLC lifted its position in Cytek Biosciences by 3,452.2% in the second quarter. Millennium Management LLC now owns 946,490 shares of the company’s stock worth $5,281,000 after purchasing an additional 919,845 shares during the period. SlateStone Wealth LLC bought a new position in Cytek Biosciences during the 2nd quarter valued at $70,000. Finally, Squarepoint Ops LLC increased its position in shares of Cytek Biosciences by 1,013.8% during the 2nd quarter. Squarepoint Ops LLC now owns 187,361 shares of the company’s stock valued at $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.

Wall Street Analyst Weigh In

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

Cytek Biosciences Trading Up 2.1 %

NASDAQ:CTKB opened at $6.32 on Monday. The company has a 50-day moving average of $6.06 and a 200-day moving average of $5.78. The firm has a market cap of $814.09 million, a price-to-earnings ratio of -78.99 and a beta of 1.46. Cytek Biosciences, Inc. has a twelve month low of $4.66 and a twelve month high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last issued its earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $51.50 million during 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 last year, the firm posted ($0.03) earnings per share. On average, research analysts forecast that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

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.