Cytek Biosciences, Inc. (NASDAQ:CTKB) Shares Bought by Algert Global LLC

Algert Global LLC grew its holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 133.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 295,275 shares of the company's stock after purchasing an additional 168,665 shares during the quarter. Algert Global LLC owned approximately 0.22% of Cytek Biosciences worth $1,648,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SlateStone Wealth LLC purchased a new stake in shares of Cytek Biosciences during the second quarter valued at about $70,000. Quadrature Capital Ltd purchased a new stake in Cytek Biosciences during the first quarter valued at approximately $102,000. Dark Forest Capital Management LP boosted its stake in Cytek Biosciences by 85.3% in the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company's stock valued at $118,000 after acquiring an additional 9,711 shares in the last quarter. ProShare Advisors LLC increased its position in Cytek Biosciences by 7.6% during the 1st quarter. ProShare Advisors LLC now owns 23,941 shares of the company's stock valued at $161,000 after buying an additional 1,687 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Cytek Biosciences in the 2nd quarter valued at approximately $140,000. Hedge funds and other institutional investors own 69.46% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their target price on shares of Cytek Biosciences from $8.50 to $8.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 13th.

Cytek Biosciences Stock Down 1.6 %

Shares of NASDAQ:CTKB traded down $0.08 during trading on Friday, hitting $5.06. The stock had a trading volume of 404,503 shares, compared to its average volume of 687,732. Cytek Biosciences, Inc. has a 12-month low of $3.80 and a 12-month high of $9.87. The stock has a market capitalization of $664.24 million, a price-to-earnings ratio of -56.33 and a beta of 1.30. The stock has a 50-day simple moving average of $5.50 and a two-hundred day simple moving average of $5.87.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.05). The business had revenue of $46.62 million for the quarter, compared to analysts' expectations of $49.02 million. Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. During the same period in the prior year, the business posted ($0.02) earnings per share. As a group, sell-side analysts forecast that Cytek Biosciences, Inc. will post -0.11 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.