Brown Capital Management LLC Trims Stock Holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Brown Capital Management LLC trimmed its stake 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 institutional investor owned 9,493,474 shares of the company's stock after selling 1,893,910 shares during the period. Brown Capital Management LLC owned 7.22% of Cytek Biosciences worth $52,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CTKB. Vanguard Group Inc. raised its position in shares of Cytek Biosciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 12,012,805 shares of the company's stock valued at $80,606,000 after buying an additional 122,105 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Cytek Biosciences in the 2nd quarter valued at approximately $1,305,000. Millennium Management LLC increased its position in shares of Cytek Biosciences by 3,452.2% during the 2nd quarter. Millennium Management LLC now owns 946,490 shares of the company's stock valued at $5,281,000 after purchasing an additional 919,845 shares during the last quarter. SlateStone Wealth LLC purchased a new stake in Cytek Biosciences during the 2nd quarter valued at $70,000. Finally, Squarepoint Ops LLC lifted its position in Cytek Biosciences by 1,013.8% in the second quarter. Squarepoint Ops LLC now owns 187,361 shares of the company's stock worth $1,045,000 after buying an additional 170,539 shares during the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Cytek Biosciences Trading Up 5.4 %

Shares of Cytek Biosciences stock traded up $0.33 during trading on Thursday, hitting $6.46. 597,906 shares of the stock traded hands, compared to its average volume of 695,660. The firm has a market cap of $832.11 million, a P/E ratio of -80.74 and a beta of 1.32. The stock's fifty day simple moving average is $5.48 and its 200 day simple moving average is $5.71. Cytek Biosciences, Inc. has a 52-week low of $4.66 and a 52-week high of $9.87.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 EPS for the quarter, topping 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 firm had revenue of $51.50 million during the quarter, compared to analyst estimates of $50.63 million. During the same period in the previous year, the company posted ($0.03) EPS. As a group, equities analysts expect that Cytek Biosciences, Inc. will post -0.06 EPS for the current year.

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 report on Monday, November 11th.

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.