Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating)'s stock price was down 3% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $10.32 and last traded at $10.48. Approximately 826 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 792,675 shares. The stock had previously closed at $10.80.
Specifically, CFO Patrik Jeanmonod sold 3,500 shares of the firm's stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $15.16, for a total transaction of $53,060.00. Following the completion of the sale, the chief financial officer now owns 85,563 shares of the company's stock, valued at approximately $1,297,135.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Ming Yan sold 20,000 shares of Cytek Biosciences stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $14.42, for a total transaction of $288,400.00. Following the sale, the chief technology officer now directly owns 8,005,624 shares in the company, valued at approximately $115,441,098.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrik Jeanmonod sold 3,500 shares of Cytek Biosciences stock in a transaction on Monday, October 24th. The stock was sold at an average price of $15.16, for a total value of $53,060.00. Following the sale, the chief financial officer now owns 85,563 shares in the company, valued at $1,297,135.08. The disclosure for this sale can be found here. Insiders sold a total of 146,500 shares of company stock valued at $1,907,145 in the last quarter. 15.90% of the stock is currently owned by company insiders.
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Analysts Set New Price Targets
Separately, Piper Sandler lifted their target price on Cytek Biosciences from $16.00 to $18.00 in a report on Monday, November 14th.
Cytek Biosciences Stock Down 0.2 %
The company has a 50-day simple moving average of $12.30 and a two-hundred day simple moving average of $12.97. The stock has a market cap of $1.45 billion, a P/E ratio of -1,080.00 and a beta of 0.06.
Cytek Biosciences (NASDAQ:CTKB – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Cytek Biosciences had a negative net margin of 0.47% and a positive return on equity of 0.94%. The company had revenue of $40.48 million during the quarter, compared to the consensus estimate of $43.36 million. As a group, sell-side analysts forecast that Cytek Biosciences, Inc. will post 0.04 earnings per share for the current fiscal year.
Institutional Trading of Cytek Biosciences
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in shares of Cytek Biosciences by 20.1% during the third quarter. Bank of New York Mellon Corp now owns 394,034 shares of the company's stock valued at $5,800,000 after acquiring an additional 66,045 shares in the last quarter. Advisory Research Inc. bought a new position in shares of Cytek Biosciences during the third quarter valued at approximately $614,000. State Street Corp raised its holdings in shares of Cytek Biosciences by 17.6% during the third quarter. State Street Corp now owns 2,030,253 shares of the company's stock valued at $29,885,000 after acquiring an additional 304,433 shares in the last quarter. Algert Global LLC raised its holdings in shares of Cytek Biosciences by 116.5% during the third quarter. Algert Global LLC now owns 46,055 shares of the company's stock valued at $678,000 after acquiring an additional 24,785 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Cytek Biosciences by 9.2% during the third quarter. UBS Asset Management Americas Inc. now owns 69,822 shares of the company's stock valued at $1,028,000 after acquiring an additional 5,865 shares in the last quarter. Institutional investors own 49.48% of the company's stock.
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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