Northern Trust Corp Buys 121,268 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB)

Northern Trust Corp boosted its stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 11.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,188,331 shares of the company’s stock after acquiring an additional 121,268 shares during the period. Northern Trust Corp’s holdings in Cytek Biosciences were worth $7,712,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in Cytek Biosciences during the fourth quarter worth approximately $25,000. Sterling Capital Management LLC boosted its position in Cytek Biosciences by 799.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,887 shares of the company’s stock worth $25,000 after purchasing an additional 3,455 shares during the period. PNC Financial Services Group Inc. boosted its position in Cytek Biosciences by 111.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company’s stock worth $57,000 after purchasing an additional 4,665 shares during the period. Proficio Capital Partners LLC bought a new stake in Cytek Biosciences during the fourth quarter worth approximately $71,000. Finally, Cibc World Markets Corp bought a new stake in Cytek Biosciences during the fourth quarter worth approximately $74,000. Institutional investors own 69.46% of the company’s stock.

Cytek Biosciences Trading Down 0.4%

Cytek Biosciences stock opened at $2.67 on Monday. The business has a 50-day moving average of $3.73 and a 200-day moving average of $5.19. Cytek Biosciences, Inc. has a 1 year low of $2.52 and a 1 year high of $7.63. The firm has a market capitalization of $338.18 million, a P/E ratio of -33.37 and a beta of 1.42.

Cytek Biosciences (NASDAQ:CTKB) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Cytek Biosciences had a negative net margin of 5.05% and a negative return on equity of 2.58%. The business had revenue of $41.46 million during the quarter, compared to analyst estimates of $43.18 million. Research analysts anticipate that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CTKB. TD Cowen cut Cytek Biosciences from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Friday, May 9th. Stephens reiterated an “overweight” rating and set a $6.00 price target on shares of Cytek Biosciences in a report on Wednesday, March 19th. The Goldman Sachs Group lowered their price objective on Cytek Biosciences from $3.50 to $3.00 and set a “sell” rating on the stock in a research report on Monday, May 12th. Finally, 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 research report on Tuesday, March 4th.

Cytek Biosciences 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.