106,597 Shares in Cytek Biosciences, Inc. (NASDAQ:CTKB) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 106,597 shares of the company’s stock, valued at approximately $692,000.

A number of other hedge funds also recently bought and sold shares of CTKB. Royce & Associates LP increased its position in shares of Cytek Biosciences by 159.6% in the fourth quarter. Royce & Associates LP now owns 470,819 shares of the company’s stock worth $3,056,000 after acquiring an additional 289,425 shares in the last quarter. State Street Corp boosted its stake in Cytek Biosciences by 4.9% in the 3rd quarter. State Street Corp now owns 4,167,501 shares of the company’s stock worth $23,088,000 after purchasing an additional 194,369 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Cytek Biosciences during the 3rd quarter worth approximately $1,012,000. Barclays PLC raised its stake in Cytek Biosciences by 333.6% during the 3rd quarter. Barclays PLC now owns 201,359 shares of the company’s stock valued at $1,116,000 after purchasing an additional 154,915 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Cytek Biosciences in the fourth quarter valued at $765,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Cytek Biosciences Stock Down 2.4 %

Cytek Biosciences stock opened at $4.00 on Monday. Cytek Biosciences, Inc. has a 12 month low of $3.97 and a 12 month high of $7.63. The stock has a market cap of $512.39 million, a P/E ratio of -49.99 and a beta of 1.41. The company’s fifty day simple moving average is $4.92 and its 200-day simple moving average is $5.58.

Cytek Biosciences declared that its Board of Directors has approved a share repurchase plan on Monday, December 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CTKB shares. Piper Sandler lowered their price target on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group set a $5.25 target price on Cytek Biosciences in a research note on Sunday, February 2nd. Finally, Stephens reiterated an “overweight” rating and issued a $6.00 target price on shares of Cytek Biosciences in a report on Wednesday, March 19th.

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.