Susquehanna International Group LLP Has $3.02 Million Holdings in Cytek Biosciences, Inc. $CTKB

Susquehanna International Group LLP increased its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 1,117.1% during the second quarter, Holdings Channel.com reports. The firm owned 681,705 shares of the company’s stock after buying an additional 625,695 shares during the quarter. Susquehanna International Group LLP’s holdings in Cytek Biosciences were worth $3,020,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTKB. BlackRock Inc. acquired a new position in shares of Cytek Biosciences during the second quarter valued at about $42,433,000. Hhlr Advisors LTD. acquired a new position in Cytek Biosciences during the 2nd quarter valued at about $29,491,000. Boston Partners increased its holdings in Cytek Biosciences by 13,369.4% during the 4th quarter. Boston Partners now owns 5,008,309 shares of the company’s stock worth $25,297,000 after purchasing an additional 4,971,126 shares in the last quarter. Topline Capital Management LLC raised its stake in shares of Cytek Biosciences by 255.7% in the second quarter. Topline Capital Management LLC now owns 5,231,260 shares of the company’s stock worth $17,786,000 after purchasing an additional 3,760,485 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Cytek Biosciences in the third quarter valued at approximately $8,817,000. Institutional investors own 69.46% of the company’s stock.

Cytek Biosciences Price Performance

Shares of NASDAQ CTKB opened at $4.68 on Monday. The company has a market cap of $608.32 million, a P/E ratio of -7.55 and a beta of 1.17. Cytek Biosciences, Inc. has a 52 week low of $3.28 and a 52 week high of $6.18. The business has a 50-day simple moving average of $4.51 and a two-hundred day simple moving average of $4.36.

Cytek Biosciences (NASDAQ:CTKB) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). Cytek Biosciences had a negative net margin of 38.98% and a negative return on equity of 12.40%. The firm had revenue of $48.14 million for the quarter, compared to the consensus estimate of $47.31 million. Equities research analysts anticipate that Cytek Biosciences, Inc. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CTKB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytek Biosciences in a research note on Wednesday, June 24th. Stephens lowered their price target on shares of Cytek Biosciences from $5.50 to $4.75 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Finally, Morgan Stanley set a $5.00 price objective on shares of Cytek Biosciences in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.56.

Cytek Biosciences Profile

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.