155,759 Shares in Cytek Biosciences, Inc. (NASDAQ:CTKB) Acquired by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C bought a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 155,759 shares of the company’s stock, valued at approximately $869,000.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Cytek Biosciences by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 880,038 shares of the company’s stock valued at $8,026,000 after purchasing an additional 44,345 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Cytek Biosciences by 16.8% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 116,937 shares of the company’s stock worth $1,067,000 after acquiring an additional 16,804 shares during the last quarter. Vanguard Group Inc. increased its position in 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 acquiring an additional 811,279 shares during the period. Cornerstone Investment Partners LLC acquired a new position in shares of Cytek Biosciences during the first quarter worth $171,000. Finally, Texas Permanent School Fund Corp grew its stake in shares of Cytek Biosciences by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 86,601 shares of the company’s stock worth $581,000 after purchasing an additional 1,702 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Cytek Biosciences Price Performance

CTKB opened at $5.20 on Friday. Cytek Biosciences, Inc. has a 1 year low of $3.80 and a 1 year high of $9.87. The company has a market capitalization of $682.62 million, a price-to-earnings ratio of -57.78 and a beta of 1.31. The firm’s fifty day moving average price is $5.59 and its two-hundred day moving average price is $5.93.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The firm had revenue of $46.62 million for the quarter, compared to analysts’ expectations of $49.02 million. Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. During the same quarter last year, the firm posted ($0.02) earnings per share. As a group, equities analysts anticipate that Cytek Biosciences, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.