Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) CTO Ming Yan sold 20,000 shares of the firm's stock in a transaction on Thursday, January 19th. The shares were sold at an average price of $11.03, for a total transaction of $220,600.00. Following the completion of the transaction, the chief technology officer now directly owns 7,946,833 shares in the company, valued at approximately $87,653,567.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Ming Yan also recently made the following trade(s):

• On Monday, December 19th, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The shares were sold at an average price of $10.38, for a total transaction of $207,600.00.
• On Monday, November 21st, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The shares were sold at an average price of $14.66, for a total transaction of $293,200.00.

Cytek Biosciences Price Performance

Cytek Biosciences stock opened at $11.01 on Friday. Cytek Biosciences, Inc. has a 12-month low of $7.38 and a 12-month high of $16.05. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -1,101.00 and a beta of 0.06. The firm's fifty day moving average price is $11.77 and its 200 day moving average price is $12.97.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Cytek Biosciences by 20.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 394,034 shares of the company's stock worth $5,800,000 after acquiring an additional 66,045 shares in the last quarter. Advisory Research Inc. acquired a new position in shares of Cytek Biosciences in the 3rd quarter valued at about $614,000. State Street Corp boosted its holdings in shares of Cytek Biosciences by 17.6% in the 3rd quarter. State Street Corp now owns 2,030,253 shares of the company's stock valued at $29,885,000 after buying an additional 304,433 shares during the period. Algert Global LLC boosted its holdings in shares of Cytek Biosciences by 116.5% in the 3rd quarter. Algert Global LLC now owns 46,055 shares of the company's stock valued at $678,000 after buying an additional 24,785 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Cytek Biosciences by 9.2% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 69,822 shares of the company's stock valued at $1,028,000 after buying an additional 5,865 shares during the period. 49.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price target on shares of Cytek Biosciences from $16.00 to $18.00 in a research note on Monday, November 14th.

About Cytek Biosciences

(Get Rating)

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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