Charles Schwab Investment Management Inc. Has $5.71 Million Holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Charles Schwab Investment Management Inc. boosted its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 12.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,030,962 shares of the company's stock after purchasing an additional 113,127 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.78% of Cytek Biosciences worth $5,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTKB. Intech Investment Management LLC bought a new position in shares of Cytek Biosciences in the third quarter worth about $128,000. Thrivent Financial for Lutherans grew its stake in shares of Cytek Biosciences by 5.1% in the third 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. Royce & Associates LP raised its stake in Cytek Biosciences by 51.8% during the 3rd quarter. Royce & Associates LP now owns 181,394 shares of the company's stock valued at $1,005,000 after purchasing an additional 61,916 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Cytek Biosciences by 158.6% in the 3rd quarter. GSA Capital Partners LLP now owns 37,884 shares of the company's stock valued at $210,000 after purchasing an additional 23,237 shares during the period. Finally, Principal Financial Group Inc. grew its position in Cytek Biosciences by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 503,172 shares of the company's stock worth $2,788,000 after purchasing an additional 23,028 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company's stock.

Cytek Biosciences Price Performance

Shares of CTKB stock traded down $0.35 during trading hours on Friday, reaching $6.12. 207,346 shares of the company were exchanged, compared to its average volume of 685,896. The stock's fifty day moving average is $5.90 and its two-hundred day moving average is $5.75. Cytek Biosciences, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $9.87.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (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 business had revenue of $51.50 million for the quarter, compared to analyst estimates of $50.63 million. During the same period last year, the company earned ($0.03) EPS. Sell-side analysts forecast that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their target price on 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.