The Manufacturers Life Insurance Company Has $357,000 Stock Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

The Manufacturers Life Insurance Company boosted its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,003 shares of the company’s stock after purchasing an additional 2,460 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cytek Biosciences were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Cytek Biosciences by 7.3% in the fourth 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 during the last quarter. Renaissance Technologies LLC bought a new position in Cytek Biosciences during the second quarter worth about $1,305,000. SlateStone Wealth LLC acquired a new position in shares of Cytek Biosciences in the 2nd quarter valued at approximately $70,000. Squarepoint Ops LLC increased its stake in Cytek Biosciences by 1,013.8% during the 2nd quarter. Squarepoint Ops LLC now owns 187,361 shares of the company’s stock worth $1,045,000 after purchasing an additional 170,539 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Cytek Biosciences by 3,452.2% in the second quarter. Millennium Management LLC now owns 946,490 shares of the company’s stock valued at $5,281,000 after buying an additional 919,845 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Cytek Biosciences Price Performance

Cytek Biosciences stock opened at $5.14 on Friday. The company has a market cap of $674.74 million, a price-to-earnings ratio of -57.11 and a beta of 1.30. The firm has a 50-day moving average of $5.31 and a 200-day moving average of $5.77. Cytek Biosciences, Inc. has a one year low of $3.80 and a one year high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The company had revenue of $46.62 million for the quarter, compared to analyst estimates 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 last year, the company posted ($0.02) earnings per share. As a group, sell-side analysts expect that Cytek Biosciences, Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price objective on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research 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.