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Walleye Capital LLC Buys 32,032 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

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Walleye Capital LLC raised its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) by 48.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,852 shares of the company's stock after buying an additional 32,032 shares during the period. Walleye Capital LLC owned about 0.07% of Cytek Biosciences worth $1,055,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. RA Capital Management L.P. boosted its position in shares of Cytek Biosciences by 39.3% during the 1st quarter. RA Capital Management L.P. now owns 13,381,054 shares of the company's stock valued at $144,248,000 after purchasing an additional 3,774,026 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cytek Biosciences by 424.2% during the 1st quarter. Vanguard Group Inc. now owns 6,352,090 shares of the company's stock valued at $68,475,000 after purchasing an additional 5,140,344 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cytek Biosciences by 157.1% during the 1st quarter. BlackRock Inc. now owns 6,093,340 shares of the company's stock valued at $65,687,000 after purchasing an additional 3,722,881 shares in the last quarter. Miura Global Management LLC boosted its position in shares of Cytek Biosciences by 42.6% during 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 in the last quarter. Finally, State Street Corp boosted its position in shares of Cytek Biosciences by 385.5% during the 1st quarter. State Street Corp now owns 1,320,658 shares of the company's stock valued at $14,237,000 after purchasing an additional 1,048,629 shares in the last quarter. Institutional investors own 43.54% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently commented on the company. 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 report on Thursday, August 11th. Morgan Stanley upped their price target on Cytek Biosciences from $11.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Friday, August 12th. Finally, Piper Sandler upped their price target on Cytek Biosciences from $12.00 to $16.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 17th.

Cytek Biosciences Stock Performance

CTKB stock opened at $13.29 on Monday. The stock's 50 day simple moving average is $13.10 and its 200 day simple moving average is $11.38. Cytek Biosciences, Inc. has a fifty-two week low of $7.38 and a fifty-two week high of $27.93. The company has a market cap of $1.79 billion, a P/E ratio of -664.50 and a beta of 0.53.

Cytek Biosciences (NASDAQ:CTKB – Get Rating) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.03 earnings per share 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%. Equities analysts predict that Cytek Biosciences, Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at Cytek Biosciences

In other news, CFO Patrik Jeanmonod sold 3,500 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $12.80, for a total value of $44,800.00. Following the completion of the sale, the chief financial officer now directly owns 94,994 shares of the company's stock, valued at $1,215,923.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CTO Ming Yan sold 20,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $81,329,214.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Patrik Jeanmonod sold 3,500 shares of the company's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $12.80, for a total value of $44,800.00. Following the completion of the transaction, the chief financial officer now directly owns 94,994 shares of the company's stock, valued at $1,215,923.20. The disclosure for this sale can be found here. Insiders sold a total of 127,000 shares of company stock valued at $1,585,475 over the last ninety days. 15.90% of the stock is currently owned by insiders.

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.

Further Reading

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