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Cytek Biosciences, Inc. (NASDAQ:CTKB) Short Interest Update

kopsource · Jan 31, 2023 15:11

Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 3,970,000 shares, an increase of 9.7% from the December 31st total of 3,620,000 shares. Based on an average trading volume of 598,100 shares, the days-to-cover ratio is currently 6.6 days. Currently, 4.3% of the company's shares are short sold.

Wall Street Analyst Weigh In

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

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Insider Activity

In other news, Director Jack Ball sold 16,000 shares of the company's stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $14.69, for a total value of $235,040.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company's stock, valued at approximately $44,070. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Patrik Jeanmonod sold 3,500 shares of the company's stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $11.05, for a total value of $38,675.00. Following the completion of the sale, the chief financial officer now directly owns 76,132 shares of the company's stock, valued at approximately $841,258.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack Ball sold 16,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $14.69, for a total value of $235,040.00. Following the sale, the director now directly owns 3,000 shares of the company's stock, valued at $44,070. The disclosure for this sale can be found here. Insiders sold a total of 146,500 shares of company stock valued at $1,824,960 in the last ninety days. 15.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Cytek Biosciences

Several large investors have recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its holdings in shares of Cytek Biosciences by 30.7% in the 4th quarter. New York State Common Retirement Fund now owns 827,123 shares of the company's stock valued at $8,445,000 after buying an additional 194,116 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Cytek Biosciences in the 4th quarter valued at approximately $178,000. Strs Ohio boosted its holdings in shares of Cytek Biosciences by 84.8% in the 4th quarter. Strs Ohio now owns 40,100 shares of the company's stock valued at $409,000 after buying an additional 18,400 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Cytek Biosciences by 20.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 394,034 shares of the company's stock valued at $5,800,000 after buying an additional 66,045 shares during the last quarter. Finally, Advisory Research Inc. acquired a new stake in Cytek Biosciences during the 3rd quarter valued at $614,000. Institutional investors and hedge funds own 49.48% of the company's stock.

Cytek Biosciences Stock Performance

NASDAQ CTKB traded up $0.43 during trading hours on Tuesday, reaching $12.14. 286,762 shares of the company's stock were exchanged, compared to its average volume of 706,353. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -1,194.00 and a beta of 0.06. Cytek Biosciences has a one year low of $7.38 and a one year high of $16.05. The company's 50-day moving average is $11.39 and its two-hundred day moving average is $12.99.

Cytek Biosciences (NASDAQ:CTKB – Get Rating) last issued its quarterly earnings results 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). The business had revenue of $40.48 million for the quarter, compared to the consensus estimate of $43.36 million. Cytek Biosciences had a positive return on equity of 0.94% and a negative net margin of 0.47%. Research analysts predict that Cytek Biosciences will post 0.04 earnings per share for the current fiscal 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.