Millennium Management LLC Has $5.28 Million Holdings in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Millennium Management LLC raised its position in Cytek Biosciences, Inc. (NASDAQ:CTKB - Free Report) by 3,452.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 946,490 shares of the company's stock after purchasing an additional 919,845 shares during the period. Millennium Management LLC owned approximately 0.72% of Cytek Biosciences worth $5,281,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. SlateStone Wealth LLC bought a new stake in shares of Cytek Biosciences in the 2nd quarter valued at $70,000. Quadrature Capital Ltd bought a new stake in shares of Cytek Biosciences in the first quarter worth about $102,000. Dark Forest Capital Management LP raised its position in shares of Cytek Biosciences by 85.3% during the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company's stock worth $118,000 after purchasing an additional 9,711 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Cytek Biosciences during the second quarter worth about $140,000. Finally, ProShare Advisors LLC lifted its holdings in shares of 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 purchasing an additional 1,687 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 report on Tuesday, August 13th.

Cytek Biosciences Price Performance

Shares of CTKB traded up $0.14 during midday trading on Friday, hitting $5.01. The stock had a trading volume of 435,178 shares, compared to its average volume of 682,917. The firm has a market cap of $657.68 million, a price-to-earnings ratio of -55.67 and a beta of 1.30. The company has a 50 day simple moving average of $5.32 and a two-hundred day simple moving average of $5.80. Cytek Biosciences, Inc. has a twelve month low of $3.80 and a twelve month high of $9.87.

Cytek Biosciences (NASDAQ:CTKB - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The firm had revenue of $46.62 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted ($0.02) EPS. Analysts forecast that Cytek Biosciences, Inc. will post -0.11 EPS for the current fiscal 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.