Cytek Biosciences, Inc. (NASDAQ:CTKB) Stake Lessened by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,007,139 shares of the company’s stock after selling 128,568 shares during the period. Wellington Management Group LLP’s holdings in Cytek Biosciences were worth $11,120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CTKB. State Street Corp raised its stake in shares of Cytek Biosciences by 4.9% in the 3rd quarter. State Street Corp now owns 4,167,501 shares of the company’s stock worth $23,088,000 after buying an additional 194,369 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Cytek Biosciences during the third quarter worth about $1,012,000. Verition Fund Management LLC grew its holdings in Cytek Biosciences by 175.8% during the third quarter. Verition Fund Management LLC now owns 37,942 shares of the company’s stock worth $210,000 after acquiring an additional 24,185 shares during the period. Public Sector Pension Investment Board raised its position in 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 acquiring an additional 15,200 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Cytek Biosciences by 4.8% during the 3rd quarter. FMR LLC now owns 667,076 shares of the company’s stock valued at $3,696,000 after purchasing an additional 30,386 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Cytek Biosciences Stock Down 4.0 %

CTKB opened at $6.21 on Monday. The firm has a market cap of $799.92 million, a PE ratio of -77.63 and a beta of 1.46. The business has a fifty day simple moving average of $5.92 and a 200-day simple moving average of $5.75. Cytek Biosciences, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $9.87.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $51.50 million during the quarter, compared to analyst estimates of $50.63 million. Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. During the same quarter last year, the company posted ($0.03) EPS. On average, equities research analysts anticipate that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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