Charles Schwab Investment Management Inc. Increases Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Charles Schwab Investment Management Inc. grew its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 12.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,030,962 shares of the company’s stock after acquiring an additional 113,127 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Cytek Biosciences were worth $5,712,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTKB. Renaissance Technologies LLC purchased a new position in shares of Cytek Biosciences during the second quarter worth approximately $1,305,000. Millennium Management LLC grew its holdings in shares of Cytek Biosciences by 3,452.2% during the 2nd quarter. Millennium Management LLC now owns 946,490 shares of the company’s stock valued at $5,281,000 after purchasing an additional 919,845 shares during the last quarter. SlateStone Wealth LLC purchased a new position in Cytek Biosciences in the 2nd quarter worth $70,000. Squarepoint Ops LLC lifted its stake in Cytek Biosciences by 1,013.8% in the second 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 during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Cytek Biosciences during the second quarter valued at about $869,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Cytek Biosciences Stock Performance

NASDAQ:CTKB opened at $6.47 on Friday. Cytek Biosciences, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $9.87. The firm has a market cap of $833.41 million, a PE ratio of -80.88 and a beta of 1.45. The business has a 50 day moving average price of $5.90 and a 200-day moving average price of $5.75.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $51.50 million during the quarter, compared to analysts’ expectations of $50.63 million. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. During the same quarter in the prior year, the company posted ($0.03) EPS. Research analysts predict that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price objective on Cytek Biosciences from $8.00 to $8.50 and gave the stock an “overweight” rating in a report on Monday, November 11th.

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.