Jacobs Levy Equity Management Inc. Invests $1.01 Million in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Jacobs Levy Equity Management Inc. purchased a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 182,713 shares of the company's stock, valued at approximately $1,012,000. Jacobs Levy Equity Management Inc. owned about 0.14% of Cytek Biosciences as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Millennium Management LLC increased its stake in shares of Cytek Biosciences by 3,452.2% during the second quarter. Millennium Management LLC now owns 946,490 shares of the company's stock worth $5,281,000 after purchasing an additional 919,845 shares during the period. Renaissance Technologies LLC bought a new position in Cytek Biosciences during the 2nd quarter worth $1,305,000. Squarepoint Ops LLC lifted its holdings in shares of Cytek Biosciences by 1,013.8% during the second quarter. Squarepoint Ops LLC now owns 187,361 shares of the company's stock worth $1,045,000 after buying an additional 170,539 shares in the last quarter. Algert Global LLC boosted its position in shares of Cytek Biosciences by 133.2% in the second quarter. Algert Global LLC now owns 295,275 shares of the company's stock valued at $1,648,000 after acquiring an additional 168,665 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Cytek Biosciences in the second quarter valued at about $869,000. 69.46% of the stock is owned by institutional investors.

Cytek Biosciences Trading Up 4.5 %

Shares of CTKB stock traded up $0.29 during trading hours on Monday, reaching $6.76. The company's stock had a trading volume of 410,753 shares, compared to its average volume of 688,744. The firm's 50 day simple moving average is $5.80 and its 200-day simple moving average is $5.73. 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 issued its 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 net margin of 5.05% and a negative return on equity of 2.58%. The business had revenue of $51.50 million for the quarter, compared to analyst estimates of $50.63 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. Equities analysts predict that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price objective on shares of Cytek Biosciences from $8.00 to $8.50 and gave the company an "overweight" rating in a report on Monday, November 11th.

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.