Allspring Global Investments Holdings LLC grew its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) by 54.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,077 shares of the company's stock after purchasing an additional 1,789 shares during the period. Allspring Global Investments Holdings LLC's holdings in Cytek Biosciences were worth $74,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTKB. Principal Financial Group Inc. purchased a new stake in Cytek Biosciences in the 1st quarter worth about $171,000. ProShare Advisors LLC purchased a new stake in Cytek Biosciences in the 1st quarter worth about $197,000. JPMorgan Chase & Co. lifted its stake in Cytek Biosciences by 402.5% in the 1st quarter. JPMorgan Chase & Co. now owns 49,906 shares of the company's stock worth $538,000 after acquiring an additional 39,974 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Cytek Biosciences by 403.9% in the 1st quarter. Bank of New York Mellon Corp now owns 266,335 shares of the company's stock worth $2,871,000 after acquiring an additional 213,476 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Cytek Biosciences by 749.0% in the 1st quarter. MetLife Investment Management LLC now owns 54,754 shares of the company's stock worth $590,000 after acquiring an additional 48,305 shares in the last quarter. 49.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler increased their price objective on Cytek Biosciences from $16.00 to $18.00 in a research note on Monday, November 14th.

Cytek Biosciences Price Performance

Cytek Biosciences (NASDAQ:CTKB – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). Cytek Biosciences had a positive return on equity of 0.94% and a negative net margin of 0.47%. The firm had revenue of $40.48 million for the quarter, compared to analysts' expectations of $43.36 million. On average, equities research analysts expect that Cytek Biosciences, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Cytek Biosciences

In other news, CEO Wenbin Jiang sold 20,000 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $14.76, for a total transaction of $295,200.00. Following the transaction, the chief executive officer now owns 7,785,820 shares of the company's stock, valued at approximately $114,918,703.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Wenbin Jiang sold 20,000 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $14.76, for a total transaction of $295,200.00. Following the transaction, the chief executive officer now owns 7,785,820 shares of the company's stock, valued at approximately $114,918,703.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack Ball sold 16,000 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $14.69, for a total value of $235,040.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $44,070. The disclosure for this sale can be found here. Insiders sold 146,500 shares of company stock valued at $1,824,960 in the last three months. Corporate insiders own 15.90% of the company's stock.

Cytek Biosciences Company Profile

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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, which leverages full spectrum profiling technology to further broaden potential applications across cell analysis.

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