Brown Capital Management LLC Has $52.59 Million Stake in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Brown Capital Management LLC cut its position in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 16.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,493,474 shares of the company's stock after selling 1,893,910 shares during the quarter. Brown Capital Management LLC owned about 7.22% of Cytek Biosciences worth $52,594,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in Cytek Biosciences by 3,452.2% during the second quarter. Millennium Management LLC now owns 946,490 shares of the company's stock worth $5,281,000 after acquiring an additional 919,845 shares during the period. Renaissance Technologies LLC acquired a new position in Cytek Biosciences in the 2nd quarter valued at $1,305,000. Squarepoint Ops LLC grew its holdings in shares of Cytek Biosciences by 1,013.8% during the 2nd quarter. Squarepoint Ops LLC now owns 187,361 shares of the company's stock worth $1,045,000 after purchasing an additional 170,539 shares in the last quarter. Algert Global LLC increased its position in shares of Cytek Biosciences by 133.2% in the second quarter. Algert Global LLC now owns 295,275 shares of the company's stock worth $1,648,000 after purchasing an additional 168,665 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in Cytek Biosciences in the second quarter valued at about $869,000. Institutional investors own 69.46% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price objective on shares of 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 Stock Performance

Shares of CTKB stock opened at $6.13 on Thursday. Cytek Biosciences, Inc. has a twelve month low of $4.66 and a twelve month high of $9.87. The stock's fifty day simple moving average is $5.45 and its 200 day simple moving average is $5.70.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $50.63 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. On average, equities analysts anticipate that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

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.

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