Los Angeles Capital Management LLC Acquires New Position in Cytek Biosciences, Inc. $CTKB

Los Angeles Capital Management LLC bought a new position in Cytek Biosciences, Inc. (NASDAQ:CTKB) in the second quarter, according to its most recent filing with the SEC. The firm bought 15,332 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds have also bought and sold shares of the stock. CWM LLC lifted its stake in shares of Cytek Biosciences by 1,637.7% during the first quarter. CWM LLC now owns 18,020 shares of the company’s stock worth $72,000 after buying an additional 16,983 shares during the period. Allianz Asset Management GmbH raised its stake in Cytek Biosciences by 46.0% in the 1st quarter. Allianz Asset Management GmbH now owns 74,000 shares of the company’s stock worth $297,000 after acquiring an additional 23,300 shares during the last quarter. Royce & Associates LP lifted its position in Cytek Biosciences by 20.2% during the 1st quarter. Royce & Associates LP now owns 565,819 shares of the company’s stock worth $2,269,000 after acquiring an additional 95,000 shares during the period. Corton Capital Inc. acquired a new stake in Cytek Biosciences during the 1st quarter worth about $65,000. Finally, XTX Topco Ltd grew its stake in Cytek Biosciences by 714.5% during the 1st quarter. XTX Topco Ltd now owns 170,279 shares of the company’s stock valued at $683,000 after purchasing an additional 149,373 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

CTKB has been the subject of a number of research reports. Zacks Research downgraded Cytek Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Piper Sandler reduced their price target on shares of Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cytek Biosciences in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cytek Biosciences has a consensus rating of “Hold” and a consensus target price of $5.50.

Cytek Biosciences Trading Up 4.5%

Shares of CTKB stock opened at $5.53 on Wednesday. Cytek Biosciences, Inc. has a twelve month low of $2.37 and a twelve month high of $7.30. The stock has a market cap of $707.07 million, a P/E ratio of -55.29 and a beta of 1.33. The stock has a 50 day moving average of $4.08 and a 200 day moving average of $3.68.

Cytek Biosciences (NASDAQ:CTKB) last issued its quarterly earnings data on Tuesday, November 28th. The company reported $0.04 EPS for the quarter. Cytek Biosciences had a negative net margin of 6.51% and a negative return on equity of 3.35%. The business had revenue of $40.48 million for the quarter. On average, research analysts predict that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current fiscal year.

Cytek Biosciences Company Profile

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 that leverages full spectrum profiling technology to further broaden potential applications across cell analysis; aurora CS systems; amnis imagestream imaging flow cytometers; guava muse cell analyzers; guava easycyte flow cytometers; and orion reagent cocktail preparation systems.