Algert Global LLC Purchases 34,100 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Algert Global LLC increased its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 11.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 329,375 shares of the company’s stock after buying an additional 34,100 shares during the period. Algert Global LLC’s holdings in Cytek Biosciences were worth $1,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTKB. Vanguard Group Inc. lifted its position in Cytek Biosciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 12,012,805 shares of the company’s stock worth $80,606,000 after buying an additional 122,105 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Cytek Biosciences during the 1st quarter worth about $102,000. Price T Rowe Associates Inc. MD lifted its position in Cytek Biosciences by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,665 shares of the company’s stock worth $233,000 after buying an additional 3,987 shares in the last quarter. SG Americas Securities LLC acquired a new position in Cytek Biosciences during the 2nd quarter worth about $180,000. Finally, Bank of New York Mellon Corp lifted its position in Cytek Biosciences by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 804,261 shares of the company’s stock worth $4,488,000 after buying an additional 29,579 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Cytek Biosciences Trading Up 1.4 %

Cytek Biosciences stock opened at $6.50 on Thursday. Cytek Biosciences, Inc. has a 1 year low of $4.66 and a 1 year high of $9.87. The company has a market cap of $837.27 million, a PE ratio of -80.99 and a beta of 1.32. The company’s 50-day moving average is $5.57 and its two-hundred day moving average is $5.70.

Cytek Biosciences (NASDAQ:CTKB) last released its earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. The company had revenue of $51.50 million for the quarter, compared to the consensus estimate of $50.63 million. During the same period in the prior year, the company posted ($0.03) EPS. Research analysts forecast that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their price target on shares of Cytek Biosciences from $8.00 to $8.50 and gave the stock an “overweight” rating in a research report on Monday, November 11th.

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.