Bank of New York Mellon Corp Purchases 29,579 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Bank of New York Mellon Corp increased its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 804,261 shares of the company’s stock after buying an additional 29,579 shares during the period. Bank of New York Mellon Corp owned about 0.61% of Cytek Biosciences worth $4,488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CTKB. Swiss National Bank boosted its holdings in shares of Cytek Biosciences by 17.8% during the 4th quarter. Swiss National Bank now owns 228,500 shares of the company’s stock valued at $2,084,000 after purchasing an additional 34,600 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cytek Biosciences by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 880,038 shares of the company’s stock valued at $8,026,000 after purchasing an additional 44,345 shares during the last quarter. Zevenbergen Capital Investments LLC boosted its holdings in shares of Cytek Biosciences by 5.0% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 42,300 shares of the company’s stock valued at $386,000 after purchasing an additional 2,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Cytek Biosciences by 16.8% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 116,937 shares of the company’s stock valued at $1,067,000 after purchasing an additional 16,804 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Cytek Biosciences by 7.3% during the 4th 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. Institutional investors own 69.46% of the company’s stock.

Cytek Biosciences Trading Up 3.6 %

Shares of NASDAQ CTKB opened at $4.91 on Friday. The firm’s 50-day moving average price is $5.78 and its 200-day moving average price is $6.11. The stock has a market capitalization of $645.71 million, a price-to-earnings ratio of -54.55 and a beta of 1.31. Cytek Biosciences, Inc. has a 12-month low of $3.80 and a 12-month high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The business had revenue of $46.62 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted ($0.02) earnings per share. On average, equities analysts predict that Cytek Biosciences, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Cytek Biosciences

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.