Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,668,004 shares of the company's stock after buying an additional 89,210 shares during the quarter. Geode Capital Management LLC owned 2.07% of Cytek Biosciences worth $14,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CTKB. State Street Corp boosted its holdings in Cytek Biosciences by 4.9% in the third quarter. State Street Corp now owns 4,167,501 shares of the company's stock worth $23,088,000 after acquiring an additional 194,369 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cytek Biosciences by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,465,122 shares of the company's stock valued at $8,175,000 after acquiring an additional 89,615 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cytek Biosciences by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,030,962 shares of the company's stock worth $5,712,000 after purchasing an additional 113,127 shares during the last quarter. Millennium Management LLC lifted 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 valued at $5,281,000 after purchasing an additional 919,845 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Cytek Biosciences by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 804,261 shares of the company's stock worth $4,488,000 after acquiring an additional 29,579 shares during the period. 69.46% of the stock is owned by institutional investors and hedge funds.

Cytek Biosciences Trading Up 2.5 %

CTKB traded up $0.16 on Monday, reaching $6.55. The stock had a trading volume of 476,364 shares, compared to its average volume of 684,404. The business's 50-day moving average price is $6.18 and its two-hundred day moving average price is $5.79. The company has a market cap of $843.71 million, a P/E ratio of -81.86 and a beta of 1.46. 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 announced its quarterly earnings results 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 firm had revenue of $51.50 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned ($0.03) EPS. As a group, analysts predict that Cytek Biosciences, Inc. will post -0.06 earnings per share for the current year.

Cytek Biosciences declared that its board has initiated a stock buyback plan on Monday, December 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their price target on Cytek Biosciences from $8.00 to $8.50 and gave the company an "overweight" rating in a 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.