Cytek Biosciences, Inc. (NASDAQ:CTKB) Stock Holdings Lessened by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,007,139 shares of the company’s stock after selling 128,568 shares during the period. Wellington Management Group LLP owned 1.56% of Cytek Biosciences worth $11,120,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SlateStone Wealth LLC acquired a new position in Cytek Biosciences in the second quarter valued at approximately $70,000. Olympiad Research LP bought a new stake in shares of Cytek Biosciences in the 3rd quarter worth approximately $72,000. Everence Capital Management Inc. boosted its position in Cytek Biosciences by 20.9% during the 3rd quarter. Everence Capital Management Inc. now owns 16,760 shares of the company’s stock valued at $93,000 after purchasing an additional 2,900 shares during the period. Dark Forest Capital Management LP grew its stake in Cytek Biosciences by 85.3% during the 2nd quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company’s stock worth $118,000 after buying an additional 9,711 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Cytek Biosciences in the third quarter worth $128,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Cytek Biosciences Trading Down 4.0 %

Shares of NASDAQ:CTKB opened at $6.21 on Monday. The firm’s 50 day moving average is $5.92 and its two-hundred day moving average is $5.75. The firm has a market capitalization of $799.92 million, a P/E ratio of -77.63 and a beta of 1.46. Cytek Biosciences, Inc. has a 52 week low of $4.66 and a 52 week high of $9.87.

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

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price target 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.

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.