Ming Yan Sells 1,900 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) Stock

Cytek Biosciences, Inc. (NASDAQ:CTKB) CTO Ming Yan sold 1,900 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $7.00, for a total value of $13,300.00. Following the completion of the transaction, the chief technology officer now owns 6,008,502 shares in the company, valued at $42,059,514. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ming Yan also recently made the following trade(s):

• On Monday, March 18th, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The shares were sold at an average price of $6.77, for a total value of $135,400.00.

Cytek Biosciences Trading Down 2.1 %

Cytek Biosciences stock opened at $6.17 on Friday. Cytek Biosciences, Inc. has a twelve month low of $3.80 and a twelve month high of $12.31. The stock’s fifty day simple moving average is $7.43 and its 200-day simple moving average is $7.06. The firm has a market capitalization of $807.16 million, a P/E ratio of -68.55 and a beta of 1.37.

Institutional Trading of Cytek Biosciences

A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. purchased a new position in Cytek Biosciences in the first quarter valued at $171,000. ProShare Advisors LLC purchased a new position in Cytek Biosciences in the first quarter valued at $197,000. JPMorgan Chase & Co. increased its holdings in Cytek Biosciences by 402.5% in the first quarter. JPMorgan Chase & Co. now owns 49,906 shares of the company’s stock valued at $538,000 after buying an additional 39,974 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Cytek Biosciences by 403.9% in the first quarter. Bank of New York Mellon Corp now owns 266,335 shares of the company’s stock valued at $2,871,000 after buying an additional 213,476 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Cytek Biosciences by 749.0% in the first quarter. MetLife Investment Management LLC now owns 54,754 shares of the company’s stock valued at $590,000 after acquiring an additional 48,305 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Cytek Biosciences from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Piper Sandler cut their target price on Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Cytek Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

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.