Texas Permanent School Fund Corp Sells 12,539 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Texas Permanent School Fund Corp trimmed its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,062 shares of the company’s stock after selling 12,539 shares during the period. Texas Permanent School Fund Corp’s holdings in Cytek Biosciences were worth $413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC raised its position in shares of Cytek Biosciences by 7.6% during the 1st quarter. ProShare Advisors LLC now owns 23,941 shares of the company’s stock valued at $161,000 after purchasing an additional 1,687 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Cytek Biosciences by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,665 shares of the company’s stock valued at $233,000 after acquiring an additional 3,987 shares in the last quarter. SlateStone Wealth LLC purchased a new position in Cytek Biosciences during the second quarter valued at $70,000. Quadrature Capital Ltd purchased a new position in Cytek Biosciences during the first quarter valued at $102,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in 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 acquiring an additional 16,804 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their target price on shares of Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th.

Cytek Biosciences Stock Performance

CTKB opened at $5.09 on Friday. The stock has a market capitalization of $668.18 million, a price-to-earnings ratio of -56.56 and a beta of 1.31. The company has a fifty day moving average of $5.70 and a 200 day moving average of $5.99. Cytek Biosciences, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $9.87.

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