Everence Capital Management Inc. Has $126,000 Stock Position in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Everence Capital Management Inc. lessened its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 13.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,860 shares of the company’s stock after selling 2,160 shares during the period. Everence Capital Management Inc.’s holdings in Cytek Biosciences were worth $126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Cytek Biosciences by 222.0% during the third quarter. Royal Bank of Canada now owns 2,074 shares of the company’s stock valued at $30,000 after acquiring an additional 1,430 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Cytek Biosciences by 16.9% during the second quarter. Ameritas Investment Partners Inc. now owns 10,009 shares of the company’s stock valued at $85,000 after acquiring an additional 1,445 shares in the last quarter. Metropolitan Life Insurance Co NY grew its holdings in Cytek Biosciences by 31.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 6,415 shares of the company’s stock valued at $69,000 after purchasing an additional 1,536 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Cytek Biosciences by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,534 shares of the company’s stock valued at $198,000 after purchasing an additional 1,558 shares during the last quarter. Finally, Credit Suisse AG grew its holdings in Cytek Biosciences by 3.5% during the third quarter. Credit Suisse AG now owns 47,115 shares of the company’s stock valued at $694,000 after purchasing an additional 1,604 shares during the last quarter. Institutional investors own 69.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTKB has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on Cytek Biosciences from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Piper Sandler lowered their price target on Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Cytek Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Cytek Biosciences Stock Down 0.7 %

Shares of CTKB stock opened at $5.92 on Friday. The business’s 50 day moving average is $7.23 and its two-hundred day moving average is $7.06. The company has a market cap of $774.45 million, a PE ratio of -65.77 and a beta of 1.37. Cytek Biosciences, Inc. has a 12 month low of $3.80 and a 12 month high of $12.31.

Insider Transactions at Cytek Biosciences

In other news, CTO Ming Yan sold 20,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $6.77, for a total value of $135,400.00. Following the sale, the chief technology officer now owns 6,030,402 shares in the company, valued at $40,825,821.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 15.90% of the stock is currently owned by corporate insiders.

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.