Los Angeles Capital Management LLC Makes New $52,000 Investment in Cytek Biosciences, Inc. $CTKB

Los Angeles Capital Management LLC acquired a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 15,332 shares of the company’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CTKB. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cytek Biosciences during the 1st quarter valued at approximately $2,841,000. Nuveen LLC acquired a new position in Cytek Biosciences during the first quarter worth $1,223,000. American Century Companies Inc. lifted its holdings in Cytek Biosciences by 13.4% during the first quarter. American Century Companies Inc. now owns 232,175 shares of the company’s stock valued at $931,000 after purchasing an additional 27,430 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Cytek Biosciences in the second quarter valued at about $48,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Cytek Biosciences by 448.0% during the second quarter. Public Employees Retirement System of Ohio now owns 68,906 shares of the company’s stock worth $234,000 after purchasing an additional 56,333 shares in the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Cytek Biosciences Price Performance

Shares of Cytek Biosciences stock opened at $5.53 on Wednesday. The stock has a market cap of $707.07 million, a P/E ratio of -55.29 and a beta of 1.33. The stock’s 50 day simple moving average is $4.08 and its 200-day simple moving average is $3.68. Cytek Biosciences, Inc. has a 1-year low of $2.37 and a 1-year high of $7.30.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings results on Tuesday, November 28th. The company reported $0.04 EPS for the quarter. The firm had revenue of $40.48 million during the quarter. Cytek Biosciences had a negative return on equity of 3.35% and a negative net margin of 6.51%. As a group, research analysts expect that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTKB. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cytek Biosciences in a research note on Wednesday, October 8th. Zacks Research downgraded Cytek Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Piper Sandler dropped their price target on Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cytek Biosciences presently has an average rating of “Hold” and a consensus price target of $5.50.

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.