48,520 Shares in Cytek Biosciences, Inc. (NASDAQ:CTKB) Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 48,520 shares of the company’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of Cytek Biosciences in the 3rd quarter valued at approximately $145,000. State Street Corp raised its stake in Cytek Biosciences by 4.9% during the 3rd quarter. State Street Corp now owns 4,167,501 shares of the company’s stock valued at $23,088,000 after purchasing an additional 194,369 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cytek Biosciences in the third quarter valued at $1,012,000. Verition Fund Management LLC boosted its position in shares of Cytek Biosciences by 175.8% in the third quarter. Verition Fund Management LLC now owns 37,942 shares of the company’s stock worth $210,000 after buying an additional 24,185 shares during the period. Finally, Public Sector Pension Investment Board boosted its position in shares of Cytek Biosciences by 7.2% in the third quarter. Public Sector Pension Investment Board now owns 226,013 shares of the company’s stock worth $1,252,000 after buying an additional 15,200 shares during the period. Institutional investors and hedge funds own 69.46% of the company’s stock.

Cytek Biosciences Stock Performance

Shares of CTKB opened at $6.32 on Friday. The company has a market capitalization of $814.09 million, a PE ratio of -78.99 and a beta of 1.46. The company’s 50 day moving average price is $6.06 and its 200 day moving average price is $5.78. 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 quarterly earnings results on Tuesday, November 5th. The company reported $0.01 EPS for the quarter, beating 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 analysts’ expectations of $50.63 million. During the same period in the previous year, the company posted ($0.03) EPS. On average, equities analysts forecast that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.