Barclays PLC Has $1.12 Million Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

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

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

Cytek Biosciences Trading Up 2.5 %

NASDAQ:CTKB traded up $0.16 during mid-day trading on Monday, hitting $6.55. 476,364 shares of the company's stock traded hands, compared to its average volume of 684,404. The firm has a market capitalization of $843.71 million, a price-to-earnings ratio of -81.86 and a beta of 1.46. The firm has a 50 day moving average of $6.18 and a two-hundred day moving average of $5.79. Cytek Biosciences, Inc. has a 12 month low of $4.66 and a 12 month high of $9.33.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $51.50 million during the quarter, compared to analysts' expectations of $50.63 million. Cytek Biosciences had a negative return on equity of 2.58% and a negative net margin of 5.05%. During the same period in the prior year, the business earned ($0.03) earnings per share. As a group, equities research analysts expect that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

Cytek Biosciences announced that its Board of Directors has authorized a stock buyback program on Monday, December 30th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Piper Sandler boosted 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.

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.