Teacher Retirement System of Texas Takes Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Teacher Retirement System of Texas acquired a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 106,597 shares of the company's stock, valued at approximately $692,000. Teacher Retirement System of Texas owned 0.08% of Cytek Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its holdings in shares of Cytek Biosciences by 114.8% in the fourth quarter. Intech Investment Management LLC now owns 49,704 shares of the company's stock valued at $323,000 after purchasing an additional 26,567 shares in the last quarter. Cibc World Markets Corp bought a new stake in Cytek Biosciences in the 4th quarter valued at approximately $74,000. Royce & Associates LP boosted its position in Cytek Biosciences by 159.6% during the 4th quarter. Royce & Associates LP now owns 470,819 shares of the company's stock worth $3,056,000 after acquiring an additional 289,425 shares during the last quarter. Globeflex Capital L P bought a new position in shares of Cytek Biosciences during the 4th quarter worth approximately $548,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Cytek Biosciences by 111.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company's stock valued at $57,000 after purchasing an additional 4,665 shares during the last quarter. 69.46% of the stock is owned by institutional investors and hedge funds.

Cytek Biosciences Price Performance

NASDAQ CTKB traded down $0.27 on Thursday, hitting $3.72. 964,680 shares of the stock were exchanged, compared to its average volume of 714,666. The company has a market capitalization of $476.52 million, a PE ratio of -46.49 and a beta of 1.41. The business's fifty day moving average is $4.77 and its 200 day moving average is $5.54. Cytek Biosciences, Inc. has a 52 week low of $3.71 and a 52 week high of $7.63.

Remove Ads

Cytek Biosciences announced that its Board of Directors has initiated a stock buyback plan on Monday, December 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently commented on CTKB. The Goldman Sachs Group set a $5.25 target price on shares of Cytek Biosciences in a report on Sunday, February 2nd. Piper Sandler decreased their price objective on Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Finally, Stephens reiterated an "overweight" rating and set a $6.00 target price on shares of Cytek Biosciences in a report on Wednesday, March 19th.

About Cytek Biosciences

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.