Cytek Biosciences, Inc. (NASDAQ:CTKB) Stock Position Decreased by Amalgamated Bank

Amalgamated Bank trimmed its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 10.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,270 shares of the company’s stock after selling 3,593 shares during the quarter. Amalgamated Bank’s holdings in Cytek Biosciences were worth $163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CTKB. Vanguard Group Inc. boosted its holdings in shares of Cytek Biosciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 12,012,805 shares of the company’s stock worth $80,606,000 after purchasing an additional 122,105 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cytek Biosciences by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,465,122 shares of the company’s stock worth $8,175,000 after acquiring an additional 89,615 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Cytek Biosciences by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 804,261 shares of the company’s stock worth $4,488,000 after acquiring an additional 29,579 shares in the last quarter. Rhumbline Advisers boosted its position in Cytek Biosciences by 5.4% during the second quarter. Rhumbline Advisers now owns 355,436 shares of the company’s stock valued at $1,983,000 after purchasing an additional 18,124 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Cytek Biosciences during the second quarter valued at $1,305,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Cytek Biosciences Price Performance

Shares of Cytek Biosciences stock opened at $5.39 on Wednesday. The company has a market cap of $707.56 million, a PE ratio of -59.89 and a beta of 1.31. The firm has a fifty day moving average price of $5.55 and a two-hundred day moving average price of $5.88. 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 released its earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $46.62 million during the quarter, compared to the consensus estimate of $49.02 million. During the same quarter in the previous year, the business posted ($0.02) EPS. Analysts expect that Cytek Biosciences, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price objective on shares of Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research note 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.