Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Purchased by Barclays PLC

Barclays PLC raised its position in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 333.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,359 shares of the company's stock after acquiring an additional 154,915 shares during the quarter. Barclays PLC owned approximately 0.16% of Cytek Biosciences worth $1,116,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CTKB. The Manufacturers Life Insurance Company grew its position in shares of Cytek Biosciences by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 64,003 shares of the company's stock worth $357,000 after purchasing an additional 2,460 shares in the last quarter. Everence Capital Management Inc. boosted its holdings in shares of Cytek Biosciences by 20.9% in the 3rd quarter. Everence Capital Management Inc. now owns 16,760 shares of the company's stock worth $93,000 after purchasing an additional 2,900 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Cytek Biosciences by 6.8% in the 3rd quarter. Louisiana State Employees Retirement System now owns 51,500 shares of the company's stock worth $285,000 after purchasing an additional 3,300 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Cytek Biosciences by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 83,648 shares of the company's stock worth $463,000 after acquiring an additional 4,096 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Cytek Biosciences by 8.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 60,785 shares of the company's stock worth $336,000 after acquiring an additional 4,521 shares during the last quarter. Institutional investors own 69.46% of the company's stock.

Cytek Biosciences Price Performance

Shares of CTKB stock traded down $0.01 during mid-day trading on Tuesday, hitting $7.20. The stock had a trading volume of 524,646 shares, compared to its average volume of 689,250. The firm has a market capitalization of $927.44 million, a P/E ratio of -89.99 and a beta of 1.44. Cytek Biosciences, Inc. has a 12-month low of $4.66 and a 12-month high of $9.33. The firm's 50-day moving average is $6.58 and its two-hundred day moving average is $5.88.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. The company had revenue of $51.50 million for the quarter, compared to analyst estimates of $50.63 million. During the same period in the prior year, the company posted ($0.03) EPS. Analysts expect that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

Cytek Biosciences declared that its Board of Directors has authorized a share repurchase plan on Monday, December 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price target on Cytek Biosciences from $8.00 to $8.50 and gave the stock an "overweight" rating in a research note on Monday, November 11th.

Cytek Biosciences 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.