Connor Clark & Lunn Investment Management Ltd. Sells 15,842 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 615,630 shares of the company’s stock after selling 15,842 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cytek Biosciences were worth $3,411,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. SlateStone Wealth LLC bought a new stake in Cytek Biosciences during the 2nd quarter valued at $70,000. Olympiad Research LP purchased a new position in shares of Cytek Biosciences during the third quarter valued at $72,000. Everence Capital Management Inc. increased its stake in shares of Cytek Biosciences by 20.9% during the third quarter. Everence Capital Management Inc. now owns 16,760 shares of the company’s stock valued at $93,000 after buying an additional 2,900 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Cytek Biosciences in the first quarter valued at about $102,000. Finally, Dark Forest Capital Management LP lifted its stake in 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 period. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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 Stock Up 1.4 %

Cytek Biosciences stock opened at $6.55 on Monday. The firm has a market cap of $843.71 million, a P/E ratio of -81.88 and a beta of 1.32. The business has a fifty day moving average of $5.52 and a two-hundred day moving average of $5.70. Cytek Biosciences, Inc. has a twelve month low of $4.66 and a twelve month high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last released 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 during the quarter, compared to analyst estimates of $50.63 million. During the same period in the prior year, the firm posted ($0.03) earnings per share. Equities analysts expect that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

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.