Brown Capital Management LLC Has $17.20 Million Position in Cytek Biosciences, Inc. $CTKB

Brown Capital Management LLC trimmed its position in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 30.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,958,016 shares of the company’s stock after selling 2,151,979 shares during the quarter. Brown Capital Management LLC owned 3.90% of Cytek Biosciences worth $17,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in shares of Cytek Biosciences by 394.4% in the 1st quarter. AQR Capital Management LLC now owns 653,277 shares of the company’s stock valued at $2,620,000 after purchasing an additional 521,135 shares in the last quarter. Jane Street Group LLC boosted its stake in Cytek Biosciences by 412.2% in the first quarter. Jane Street Group LLC now owns 344,169 shares of the company’s stock valued at $1,380,000 after buying an additional 276,972 shares in the last quarter. Acadian Asset Management LLC bought a new position in Cytek Biosciences in the first quarter valued at about $162,000. Strs Ohio acquired a new position in Cytek Biosciences during the first quarter worth about $105,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cytek Biosciences by 97.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,067 shares of the company’s stock worth $117,000 after acquiring an additional 15,351 shares during the last quarter. 69.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTKB has been the subject of a number of research analyst reports. Zacks Research cut shares of Cytek Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Piper Sandler lowered their price target on shares of Cytek Biosciences from $8.00 to $7.50 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Morgan Stanley assumed coverage on Cytek Biosciences in a report on Monday, December 1st. They set an “equal weight” rating and a $6.00 price objective on the stock. TD Cowen restated a “buy” rating on shares of Cytek Biosciences in a research report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytek Biosciences in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.50.

Cytek Biosciences Stock Up 3.2%

CTKB opened at $5.16 on Tuesday. Cytek Biosciences, Inc. has a twelve month low of $2.37 and a twelve month high of $6.18. The company has a fifty day moving average of $5.22 and a 200-day moving average of $4.46. The stock has a market cap of $659.76 million, a PE ratio of -51.59 and a beta of 1.30.

About Cytek Biosciences

Cytek Biosciences is a biotechnology company specializing in innovative cell analysis solutions. The firm develops and commercializes advanced spectral flow cytometry instruments and associated reagents designed to enable high-parameter single-cell analysis. Its technology platform offers researchers and clinicians enhanced sensitivity, resolution and flexibility compared to traditional flow cytometry methods.

The company’s core product portfolio includes the Aurora and Northern Lights spectral cytometry systems, which support simultaneous detection of up to 64 fluorescence parameters.