Renaissance Technologies LLC Makes New $1.31 Million Investment in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Renaissance Technologies LLC purchased a new stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 233,900 shares of the company's stock, valued at approximately $1,305,000. Renaissance Technologies LLC owned approximately 0.18% of Cytek Biosciences as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. SlateStone Wealth LLC purchased a new stake in Cytek Biosciences in the second quarter worth approximately $70,000. Quadrature Capital Ltd purchased a new position in Cytek Biosciences in the 1st quarter worth $102,000. Allspring Global Investments Holdings LLC purchased a new stake in Cytek Biosciences during the second quarter valued at about $140,000. ProShare Advisors LLC increased its holdings in shares of Cytek Biosciences by 7.6% in the first quarter. ProShare Advisors LLC now owns 23,941 shares of the company's stock worth $161,000 after buying an additional 1,687 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Cytek Biosciences in the 1st quarter valued at about $171,000. Institutional investors own 69.46% of the company's stock.

Analyst Ratings Changes

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

Cytek Biosciences Stock Down 1.6 %

Shares of NASDAQ:CTKB traded down $0.08 during midday trading on Friday, hitting $5.06. 404,504 shares of the stock traded hands, compared to its average volume of 687,732. The stock has a market capitalization of $664.24 million, a PE ratio of -56.22 and a beta of 1.30. Cytek Biosciences, Inc. has a one year low of $3.80 and a one year high of $9.87. The business's 50 day moving average is $5.46 and its two-hundred day moving average is $5.86.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 8.88% and a negative return on equity of 3.75%. During the same period last year, the firm 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.

About Cytek Biosciences

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.