Dark Forest Capital Management LP Purchases 9,711 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Dark Forest Capital Management LP raised its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 85.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,098 shares of the company’s stock after acquiring an additional 9,711 shares during the period. Dark Forest Capital Management LP’s holdings in Cytek Biosciences were worth $118,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CTKB. Vanguard Group Inc. boosted its stake in shares of Cytek Biosciences by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 11,890,700 shares of the company’s stock valued at $108,443,000 after purchasing an additional 811,279 shares in the last quarter. SlateStone Wealth LLC bought a new stake in Cytek Biosciences in the second quarter worth $70,000. Texas Permanent School Fund Corp boosted its position in Cytek Biosciences by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 86,601 shares of the company’s stock valued at $581,000 after buying an additional 1,702 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Cytek Biosciences by 16.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 116,937 shares of the company’s stock valued at $1,067,000 after buying an additional 16,804 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Cytek Biosciences in the second quarter worth about $869,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th.

Cytek Biosciences Trading Up 2.8 %

CTKB stock opened at $5.54 on Tuesday. The stock has a market capitalization of $727.25 million, a price-to-earnings ratio of -61.56 and a beta of 1.31. The firm’s 50-day moving average price is $5.56 and its two-hundred day moving average price is $5.90. Cytek Biosciences, Inc. has a 12-month low of $3.80 and a 12-month high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The business had revenue of $46.62 million for the quarter, compared to the consensus estimate of $49.02 million. Cytek Biosciences had a negative net margin of 8.88% and a negative return on equity of 3.75%. During the same period in the previous year, the company earned ($0.02) EPS. Equities analysts predict that Cytek Biosciences, Inc. will post -0.11 EPS for the current year.

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.