Globeflex Capital L P Purchases Shares of 84,434 Cytek Biosciences, Inc. (NASDAQ:CTKB)

Globeflex Capital L P purchased a new stake in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 84,434 shares of the company’s stock, valued at approximately $548,000. Globeflex Capital L P owned approximately 0.07% of Cytek Biosciences at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Cytek Biosciences by 280.3% during the fourth quarter. GAMMA Investing LLC now owns 4,932 shares of the company’s stock valued at $32,000 after purchasing an additional 3,635 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings 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 valued at $57,000 after purchasing an additional 4,665 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Cytek Biosciences during the fourth quarter valued at approximately $71,000. Bailard Inc. purchased a new position in shares of Cytek Biosciences in the fourth quarter worth $123,000. Finally, Olympiad Research LP lifted its holdings in shares of Cytek Biosciences by 51.0% in the fourth quarter. Olympiad Research LP now owns 19,601 shares of the company’s stock worth $127,000 after buying an additional 6,617 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CTKB shares. Piper Sandler lowered their target price on shares of 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 shares of Cytek Biosciences in a report on Sunday, February 2nd.

Cytek Biosciences Stock Up 1.4 %

Cytek Biosciences stock opened at $4.20 on Friday. The company has a market cap of $538.01 million, a price-to-earnings ratio of -52.49 and a beta of 1.41. The firm’s fifty day moving average is $5.39 and its 200 day moving average is $5.67. Cytek Biosciences, Inc. has a 52-week low of $4.05 and a 52-week high of $7.63.

Cytek Biosciences announced that its board has initiated a share buyback plan on Monday, December 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.