Squarepoint Ops LLC Acquires 170,539 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Squarepoint Ops LLC grew its holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 1,013.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,361 shares of the company's stock after purchasing an additional 170,539 shares during the period. Squarepoint Ops LLC owned about 0.14% of Cytek Biosciences worth $1,045,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CTKB. Public Sector Pension Investment Board grew its holdings in shares of Cytek Biosciences by 2.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 210,813 shares of the company's stock valued at $1,176,000 after acquiring an additional 5,476 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Cytek Biosciences during the 2nd quarter worth approximately $1,305,000. Dimensional Fund Advisors LP grew its stake in shares of Cytek Biosciences by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,465,122 shares of the company's stock valued at $8,175,000 after buying an additional 89,615 shares in the last quarter. American Century Companies Inc. increased its holdings in Cytek Biosciences by 22.5% during the second quarter. American Century Companies Inc. now owns 154,939 shares of the company's stock worth $865,000 after buying an additional 28,449 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Cytek Biosciences by 5.4% during the second quarter. Rhumbline Advisers now owns 355,436 shares of the company's stock worth $1,983,000 after acquiring an additional 18,124 shares in the last quarter. Institutional investors own 69.46% of the company's stock.

Analysts Set New Price Targets

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

Cytek Biosciences Stock Up 0.2 %

Shares of CTKB stock traded up $0.01 during trading on Monday, reaching $5.07. 649,074 shares of the company's stock were exchanged, compared to its average volume of 687,532. Cytek Biosciences, Inc. has a twelve month low of $3.80 and a twelve month high of $9.87. The firm's fifty day moving average price is $5.46 and its 200-day moving average price is $5.85. The stock has a market capitalization of $665.55 million, a PE ratio of -57.89 and a beta of 1.30.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The company had revenue of $46.62 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned ($0.02) earnings per share. As a group, analysts anticipate that Cytek Biosciences, Inc. will post -0.11 EPS for the current fiscal year.

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.