Royce & Associates LP Increases Holdings in Cytek Biosciences, Inc. $CTKB

Royce & Associates LP boosted its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 26.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,763,262 shares of the company’s stock after acquiring an additional 373,456 shares during the period. Royce & Associates LP owned about 1.38% of Cytek Biosciences worth $6,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CTKB. Quantbot Technologies LP raised its stake in Cytek Biosciences by 37.1% in the third quarter. Quantbot Technologies LP now owns 33,907 shares of the company’s stock valued at $118,000 after buying an additional 9,176 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Cytek Biosciences by 210.2% during the third quarter. GSA Capital Partners LLP now owns 109,098 shares of the company’s stock valued at $379,000 after acquiring an additional 73,932 shares during the last quarter. Public Sector Pension Investment Board raised its position in Cytek Biosciences by 22.0% in the third quarter. Public Sector Pension Investment Board now owns 426,806 shares of the company’s stock valued at $1,481,000 after purchasing an additional 77,070 shares during the period. Savant Capital LLC lifted its stake in Cytek Biosciences by 23.1% during the 3rd quarter. Savant Capital LLC now owns 29,703 shares of the company’s stock worth $103,000 after acquiring an additional 5,570 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Cytek Biosciences by 8.9% in the third quarter. Principal Financial Group Inc. now owns 623,306 shares of the company’s stock valued at $2,163,000 after purchasing an additional 50,919 shares during the period. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CTKB shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytek Biosciences in a research report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of Cytek Biosciences in a research report on Thursday, January 8th. Morgan Stanley assumed coverage on Cytek Biosciences in a report on Monday, December 1st. They issued an “equal weight” rating and a $6.00 price objective on the stock. Finally, Piper Sandler lowered their price target on Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.50.

Cytek Biosciences Price Performance

NASDAQ:CTKB opened at $4.41 on Thursday. Cytek Biosciences, Inc. has a 1-year low of $2.37 and a 1-year high of $6.18. The stock has a market cap of $563.86 million, a P/E ratio of -8.65 and a beta of 1.31. The firm has a 50-day moving average of $4.91 and a two-hundred day moving average of $4.57.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.36). The firm had revenue of $62.14 million during the quarter, compared to the consensus estimate of $58.80 million. Cytek Biosciences had a negative net margin of 33.02% and a negative return on equity of 7.70%. As a group, equities analysts expect that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

About Cytek Biosciences

Cytek Biosciences is a biotechnology company specializing in innovative cell analysis solutions. The firm develops and commercializes advanced spectral flow cytometry instruments and associated reagents designed to enable high-parameter single-cell analysis. Its technology platform offers researchers and clinicians enhanced sensitivity, resolution and flexibility compared to traditional flow cytometry methods.

The company’s core product portfolio includes the Aurora and Northern Lights spectral cytometry systems, which support simultaneous detection of up to 64 fluorescence parameters.