Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Bought by Swiss National Bank

Swiss National Bank grew its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 17.8% during the fourth quarter, HoldingsChannel reports. The firm owned 228,500 shares of the company’s stock after purchasing an additional 34,600 shares during the quarter. Swiss National Bank’s holdings in Cytek Biosciences were worth $2,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. purchased a new position in Cytek Biosciences in the 4th quarter valued at $36,000. Amalgamated Bank boosted its holdings in shares of Cytek Biosciences by 14.0% in the third quarter. Amalgamated Bank now owns 48,488 shares of the company’s stock valued at $268,000 after acquiring an additional 5,957 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of Cytek Biosciences by 13.8% during the third quarter. Yousif Capital Management LLC now owns 49,451 shares of the company’s stock worth $273,000 after acquiring an additional 5,990 shares during the period. Arizona State Retirement System raised its holdings in Cytek Biosciences by 29.0% during the fourth quarter. Arizona State Retirement System now owns 32,401 shares of the company’s stock worth $295,000 after purchasing an additional 7,293 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cytek Biosciences by 130.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,701 shares of the company’s stock valued at $189,000 after purchasing an additional 11,734 shares during the period. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Insider Activity

In related news, CTO Ming Yan sold 20,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $6.77, for a total value of $135,400.00. Following the sale, the chief technology officer now directly owns 6,030,402 shares of the company’s stock, valued at approximately $40,825,821.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 41,900 shares of company stock worth $266,100 over the last 90 days. 15.90% of the stock is currently owned by corporate insiders.

Cytek Biosciences Trading Up 0.7 %

Shares of Cytek Biosciences stock opened at $5.96 on Friday. The company has a 50-day moving average of $6.25 and a two-hundred day moving average of $7.28. Cytek Biosciences, Inc. has a 12-month low of $3.80 and a 12-month high of $9.87. The stock has a market cap of $782.37 million, a PE ratio of -66.21 and a beta of 1.38.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings data on Wednesday, March 13th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $58.23 million during the quarter, compared to the consensus estimate of $56.66 million. Cytek Biosciences had a negative return on equity of 1.78% and a negative net margin of 5.73%. On average, sell-side analysts forecast that Cytek Biosciences, Inc. will post -0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Cytek Biosciences from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler cut their price objective on Cytek Biosciences from $10.00 to $8.50 and set an “overweight” rating for the company in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $8.63.

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.