Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. lifted its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 20.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,760 shares of the company’s stock after acquiring an additional 2,900 shares during the period. Everence Capital Management Inc.’s holdings in Cytek Biosciences were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CTKB. SlateStone Wealth LLC acquired a new stake in shares of Cytek Biosciences in the second quarter worth approximately $70,000. Quadrature Capital Ltd acquired a new stake in shares of Cytek Biosciences in the first quarter worth approximately $102,000. Dark Forest Capital Management LP boosted its stake in shares of Cytek Biosciences by 85.3% in the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company’s stock worth $118,000 after acquiring an additional 9,711 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Cytek Biosciences in the second quarter worth approximately $140,000. Finally, ProShare Advisors LLC boosted its stake in Cytek Biosciences by 7.6% during the first quarter. ProShare Advisors LLC now owns 23,941 shares of the company’s stock worth $161,000 after buying an additional 1,687 shares during the last quarter. 69.46% of the stock is owned by institutional investors and hedge funds.

Cytek Biosciences Stock Performance

NASDAQ CTKB opened at $5.09 on Wednesday. The stock’s fifty day moving average is $5.30 and its two-hundred day moving average is $5.74. The firm has a market capitalization of $668.18 million, a P/E ratio of -56.56 and a beta of 1.30. Cytek Biosciences, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last posted its earnings results on Tuesday, August 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Cytek Biosciences had a negative net margin of 8.88% and a negative return on equity of 3.75%. The business had revenue of $46.62 million during the quarter, compared to analysts’ expectations of $49.02 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. As a group, sell-side analysts forecast that Cytek Biosciences, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price objective on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th.

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.