Louisiana State Employees Retirement System Purchases 3,300 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Louisiana State Employees Retirement System lifted its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,500 shares of the company’s stock after acquiring an additional 3,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cytek Biosciences were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Cytek Biosciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,012,805 shares of the company’s stock worth $80,606,000 after purchasing an additional 122,105 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Cytek Biosciences by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,465,122 shares of the company’s stock worth $8,175,000 after purchasing an additional 89,615 shares in the last quarter. Millennium Management LLC raised its holdings in Cytek Biosciences by 3,452.2% in the second quarter. Millennium Management LLC now owns 946,490 shares of the company’s stock worth $5,281,000 after purchasing an additional 919,845 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Cytek Biosciences by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 804,261 shares of the company’s stock worth $4,488,000 after purchasing an additional 29,579 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Cytek Biosciences by 5.4% in the second quarter. Rhumbline Advisers now owns 355,436 shares of the company’s stock worth $1,983,000 after purchasing an additional 18,124 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Cytek Biosciences Stock Performance

Shares of CTKB stock opened at $7.40 on Thursday. Cytek Biosciences, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $9.87. The firm has a market capitalization of $973.17 million, a price-to-earnings ratio of -50.50 and a beta of 1.32. The stock’s 50-day simple moving average is $5.20 and its 200-day simple moving average is $5.64.

Cytek Biosciences (NASDAQ:CTKB) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. The business had revenue of $51.50 million for the quarter, compared to analyst estimates of $50.63 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, equities analysts forecast that Cytek Biosciences, Inc. will post -0.14 earnings per share for the current year.

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.