Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Acquired by Olympiad Research LP

Olympiad Research LP boosted its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 51.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,601 shares of the company’s stock after acquiring an additional 6,617 shares during the quarter. Olympiad Research LP’s holdings in Cytek Biosciences were worth $127,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings 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 valued at $23,088,000 after purchasing an additional 194,369 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Cytek Biosciences in the third quarter valued at $1,012,000. Barclays PLC raised its stake in Cytek Biosciences by 333.6% in the third quarter. Barclays PLC now owns 201,359 shares of the company’s stock valued at $1,116,000 after buying an additional 154,915 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cytek Biosciences by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,030,962 shares of the company’s stock worth $5,712,000 after buying an additional 113,127 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Cytek Biosciences by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,668,004 shares of the company’s stock worth $14,784,000 after acquiring an additional 89,210 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CTKB. Piper Sandler boosted their target price on Cytek Biosciences from $8.00 to $8.50 and gave the stock an “overweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group set a $5.25 price objective on shares of Cytek Biosciences in a report on Sunday, February 2nd.

Cytek Biosciences Price Performance

NASDAQ CTKB opened at $5.12 on Monday. The company has a fifty day moving average of $5.97 and a two-hundred day moving average of $5.77. The company has a market capitalization of $658.86 million, a PE ratio of -63.93 and a beta of 1.40. Cytek Biosciences, Inc. has a 1 year low of $4.66 and a 1 year high of $9.33.

Cytek Biosciences declared that its board has initiated a share repurchase program on Monday, December 30th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.