Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 126,800 shares of the company's stock, valued at approximately $1,367,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of Cytek Biosciences at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CTKB. Victory Capital Management Inc. acquired a new stake in Cytek Biosciences during the 4th quarter valued at $175,000. Northern Trust Corp boosted its stake in shares of Cytek Biosciences by 11.1% during the fourth quarter. Northern Trust Corp now owns 159,805 shares of the company's stock valued at $2,608,000 after acquiring an additional 15,946 shares during the last quarter. Parkwood LLC purchased a new stake in Cytek Biosciences during the 4th quarter worth about $528,000. Miura Global Management LLC raised its stake in Cytek Biosciences by 42.6% in the 4th quarter. Miura Global Management LLC now owns 3,020,000 shares of the company's stock valued at $49,286,000 after purchasing an additional 902,500 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in Cytek Biosciences by 222.6% in the 4th quarter. Walleye Capital LLC now owns 65,820 shares of the company's stock valued at $1,074,000 after purchasing an additional 45,420 shares in the last quarter. 43.54% of the stock is owned by hedge funds and other institutional investors.
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Insider Activity
In related news, CTO Ming Yan sold 20,000 shares of the stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $10.06, for a total value of $201,200.00. Following the completion of the sale, the chief technology officer now directly owns 8,084,415 shares in the company, valued at approximately $81,329,214.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Patrik Jeanmonod sold 3,500 shares of the company's stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $13.45, for a total value of $47,075.00. Following the completion of the transaction, the chief financial officer now directly owns 92,563 shares in the company, valued at $1,244,972.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Ming Yan sold 20,000 shares of Cytek Biosciences stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $10.06, for a total transaction of $201,200.00. Following the sale, the chief technology officer now directly owns 8,084,415 shares in the company, valued at approximately $81,329,214.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,000 shares of company stock valued at $1,327,675. Company insiders own 15.90% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on CTKB. Piper Sandler upped their price objective on shares of Cytek Biosciences from $12.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, August 17th. Morgan Stanley raised their price objective on Cytek Biosciences from $11.00 to $15.00 and gave the stock an "equal weight" rating in a report on Friday, August 12th. Finally, The Goldman Sachs Group upped their target price on Cytek Biosciences from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, August 11th.
Cytek Biosciences Trading Up 5.3 %
Shares of CTKB opened at $13.13 on Thursday. The firm has a market capitalization of $1.77 billion, a P/E ratio of -640.00 and a beta of 0.53. The stock's fifty day simple moving average is $12.66 and its 200 day simple moving average is $11.37. Cytek Biosciences, Inc. has a twelve month low of $7.38 and a twelve month high of $28.70.
Cytek Biosciences (NASDAQ:CTKB – Get Rating) last issued its earnings results on Wednesday, August 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. Cytek Biosciences had a positive return on equity of 0.62% and a negative net margin of 1.28%. Sell-side analysts predict that Cytek Biosciences, Inc. will post 0.03 earnings per share for the current year.
About Cytek Biosciences
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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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