American Century Companies Inc. Increases Stock Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

American Century Companies Inc. increased its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 22.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 154,939 shares of the company’s stock after buying an additional 28,449 shares during the period. American Century Companies Inc.’s holdings in Cytek Biosciences were worth $865,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CTKB. SlateStone Wealth LLC purchased a new stake in Cytek Biosciences during the 2nd quarter worth approximately $70,000. Quadrature Capital Ltd bought a new stake in shares of Cytek Biosciences in the first quarter worth $102,000. ProShare Advisors LLC raised its holdings in Cytek Biosciences by 7.6% in the first quarter. ProShare Advisors LLC now owns 23,941 shares of the company’s stock valued at $161,000 after acquiring an additional 1,687 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Cytek Biosciences during the 2nd quarter valued at $140,000. Finally, Cornerstone Investment Partners LLC acquired a new position in Cytek Biosciences during the 1st quarter worth $171,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price target on 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

Shares of NASDAQ:CTKB opened at $5.39 on Wednesday. The stock has a market capitalization of $707.56 million, a price-to-earnings ratio of -59.89 and a beta of 1.31. Cytek Biosciences, Inc. has a 1-year low of $3.80 and a 1-year high of $9.87. The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $5.88.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings data 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). Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. The firm had revenue of $46.62 million for the quarter, compared to analysts’ expectations of $49.02 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, sell-side analysts expect that Cytek Biosciences, Inc. will post -0.11 EPS for the current fiscal 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.