Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,007,139 shares of the company's stock after selling 128,568 shares during the quarter. Wellington Management Group LLP owned approximately 1.56% of Cytek Biosciences worth $11,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CTKB. State Street Corp lifted its holdings in Cytek Biosciences by 4.9% in the 3rd quarter. State Street Corp now owns 4,167,501 shares of the company's stock valued at $23,088,000 after purchasing an additional 194,369 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cytek Biosciences in the third quarter valued at about $1,012,000. Verition Fund Management LLC lifted its stake in shares of Cytek Biosciences by 175.8% in the third quarter. Verition Fund Management LLC now owns 37,942 shares of the company's stock worth $210,000 after buying an additional 24,185 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Cytek Biosciences by 7.2% during the third quarter. Public Sector Pension Investment Board now owns 226,013 shares of the company's stock worth $1,252,000 after acquiring an additional 15,200 shares during the last quarter. Finally, FMR LLC grew its stake in Cytek Biosciences by 4.8% during the 3rd quarter. FMR LLC now owns 667,076 shares of the company's stock valued at $3,696,000 after acquiring an additional 30,386 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler raised their target price 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 Trading Up 6.0 %

NASDAQ:CTKB traded up $0.37 during trading hours on Monday, hitting $6.58. The company had a trading volume of 592,022 shares, compared to its average volume of 686,988. Cytek Biosciences, Inc. has a 1 year low of $4.66 and a 1 year high of $9.87. The company has a market cap of $847.58 million, a P/E ratio of -82.25 and a beta of 1.46. The company has a 50-day moving average of $5.95 and a 200 day moving average of $5.76.

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

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.