Teachers Retirement System of The State of Kentucky Raises Stock Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Teachers Retirement System of The State of Kentucky raised its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 116,937 shares of the company’s stock after buying an additional 16,804 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.09% of Cytek Biosciences worth $1,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in Cytek Biosciences during the fourth quarter valued at $36,000. Sherbrooke Park Advisers LLC bought a new position in shares of Cytek Biosciences in the 3rd quarter worth approximately $86,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cytek Biosciences by 130.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,701 shares of the company’s stock worth $189,000 after buying an additional 11,734 shares during the last quarter. Arizona State Retirement System grew its position in Cytek Biosciences by 29.0% during the fourth quarter. Arizona State Retirement System now owns 32,401 shares of the company’s stock valued at $295,000 after buying an additional 7,293 shares during the period. Finally, Zevenbergen Capital Investments LLC increased its holdings in Cytek Biosciences by 5.0% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 42,300 shares of the company’s stock valued at $386,000 after buying an additional 2,000 shares during the last quarter. 69.46% of the stock is owned by institutional investors.

Cytek Biosciences Stock Up 5.1 %

NASDAQ CTKB opened at $5.73 on Monday. Cytek Biosciences, Inc. has a twelve month low of $3.80 and a twelve month high of $9.87. The business has a 50-day moving average price of $5.95 and a 200-day moving average price of $7.24. The firm has a market cap of $752.18 million, a price-to-earnings ratio of -63.66 and a beta of 1.33.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $44.86 million during the quarter, compared to the consensus estimate of $43.86 million. Cytek Biosciences had a negative return on equity of 1.78% and a negative net margin of 5.73%. Research analysts expect that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Insider Activity at Cytek Biosciences

In other Cytek Biosciences news, CTO Ming Yan sold 20,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $5.87, for a total value of $117,400.00. Following the sale, the chief technology officer now owns 5,988,502 shares in the company, valued at approximately $35,152,506.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut their price objective on shares of Cytek Biosciences from $10.00 to $8.50 and set an “overweight” rating for the company in a research report on Monday, May 13th. The Goldman Sachs Group raised their price objective on Cytek Biosciences from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.63.

Cytek Biosciences 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.