Globeflex Capital L P Purchases Shares of 84,434 Cytek Biosciences, Inc. (NASDAQ:CTKB)

Globeflex Capital L P bought a new stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 84,434 shares of the company's stock, valued at approximately $548,000. Globeflex Capital L P owned approximately 0.07% of Cytek Biosciences at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Cytek Biosciences by 280.3% during the fourth quarter. GAMMA Investing LLC now owns 4,932 shares of the company's stock valued at $32,000 after purchasing an additional 3,635 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Cytek Biosciences by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 506,925 shares of the company's stock worth $3,290,000 after purchasing an additional 3,753 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Cytek Biosciences by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 83,648 shares of the company's stock valued at $463,000 after buying an additional 4,096 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Cytek Biosciences by 19.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 28,003 shares of the company's stock worth $155,000 after buying an additional 4,533 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Cytek Biosciences by 111.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company's stock worth $57,000 after buying an additional 4,665 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company's stock.

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Cytek Biosciences Stock Performance

Shares of CTKB stock traded down $0.02 during trading hours on Wednesday, reaching $4.22. The company had a trading volume of 1,211,456 shares, compared to its average volume of 680,477. Cytek Biosciences, Inc. has a 12-month low of $3.52 and a 12-month high of $7.63. The company has a market capitalization of $540.57 million, a price-to-earnings ratio of -52.74 and a beta of 1.41. The stock has a fifty day moving average of $5.29 and a 200-day moving average of $5.65.

Cytek Biosciences declared that its board has approved a stock repurchase program on Monday, December 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTKB shares. Stephens restated an "overweight" rating and issued a $6.00 target price on shares of Cytek Biosciences in a research report on Wednesday. Piper Sandler decreased their price objective on Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group set a $5.25 target price on shares of Cytek Biosciences in a report on Sunday, February 2nd.

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.