Algert Global LLC Has $1.83 Million Stock Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Algert Global LLC boosted its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,375 shares of the company’s stock after purchasing an additional 34,100 shares during the quarter. Algert Global LLC owned 0.25% of Cytek Biosciences worth $1,825,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Cytek Biosciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,012,805 shares of the company’s stock valued at $80,606,000 after buying an additional 122,105 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Cytek Biosciences during the 1st quarter worth approximately $102,000. Price T Rowe Associates Inc. MD increased its position in shares of Cytek Biosciences by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,665 shares of the company’s stock valued at $233,000 after purchasing an additional 3,987 shares during the period. SG Americas Securities LLC acquired a new position in shares of Cytek Biosciences in the second quarter valued at $180,000. Finally, Bank of New York Mellon Corp lifted its position 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 during the period. 69.46% of the stock is owned by institutional investors.

Cytek Biosciences Price Performance

Shares of Cytek Biosciences stock opened at $6.50 on Thursday. The firm has a market capitalization of $837.27 million, a PE ratio of -80.99 and a beta of 1.32. The company’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $5.70. Cytek Biosciences, Inc. has a 52-week low of $4.66 and a 52-week high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last posted its earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. 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 prior year, the firm earned ($0.03) EPS. Analysts predict that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler boosted their price target on shares of Cytek Biosciences from $8.00 to $8.50 and gave the company 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.