November 28, 2022

The CEO of Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Rating) insider Wenbin Jiang sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $14.76, for a total value of $295,200.00. Following the transaction, the chief executive officer now owns 7,785,820 shares of the company’s stock, valued at $114,918,703.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink.

Wenbin Jiang also recently made the following trades:

  • On Friday, October 7th, Wenbin Jiang sold 20,000 shares of Cytek Biosciences stock. The shares were sold at an average price of $14.79, for a total value of $295,800.00.
  • On Wednesday, September 7th, Wenbin Jiang sold 20,000 shares of Cytek Biosciences stock. The shares were sold at an average price of $12.89, for a total value of $257,800.00.

Cytek Biosciences stock down 1.2%

NASDAQ:CTKB traded down $0.18 during trading hours on Tuesday, reaching $14.52. The company had a trading volume of 363,834 shares, compared to its average volume of 825,654. The stock has a 50 day moving average of $14.04 and a two hundred day moving average of $12.20. Cytek Biosciences, Inc. it has a one year low of $7.38 and a one year high of $25.28. The company has a market cap of $1.95 billion, a PE ratio of -752.50 and a beta of 0.05.

Cytek Biosciences (NASDAQ:CTKB – Get Rating ) last announced its earnings results on Wednesday, August 10th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $40.16 million during the quarter, compared to analysts’ expectations of $41.34 million. Cytek Biosciences had a positive return on equity of 0.62% and a negative net margin of 1.28%.

Hedge funds weigh Cytek Biosciences

Several large investors have recently made changes to their positions in the company. New York State Common Retirement Fund raised its stake in shares of Cytek Biosciences by 785.5% during the third quarter. New York State Common Retirement Fund now owns 633,007 shares of the company’s stock valued at $9,318,000 after acquiring an additional 561,521 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Cytek Biosciences by 98.1% during the third quarter. Teacher Retirement System of Texas now owns 21,004 shares of the company’s stock valued at $309,000 after acquiring an additional 10,401 shares during the period. Strs Ohio acquired a new position in shares of Cytek Biosciences during the third quarter valued at $319,000. Allspring Global Investments Holdings LLC raised its stake in shares of Cytek Biosciences by 54.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,077 shares of the company’s stock valued at $74,000 after acquiring an additional 1,789 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Cytek Biosciences by 302.5% during the second quarter. Legal & General Group Plc now owns 39,654 shares of the company’s stock valued at $425,000 after acquiring an additional 29,802 shares during the period. Institutional investors and hedge funds own 43.54% of the company’s shares.

Analysts set new price targets

A number of analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Cytek Biosciences from $12.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 17th. Goldman Sachs Group boosted their price objective on Cytek Biosciences from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. Finally, Morgan Stanley boosted their price objective on Cytek Biosciences from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, May 12th. august

Cytek Biosciences Company Profile

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Cytek Biosciences, Inc., a cell analysis solutions company, provides cell analysis tools that facilitate scientific advances in biomedical research and clinical applications. It offers aurora and aurora borealis systems, which are spectrum flow cytometers that provide cellular analysis by utilizing fluorescence signatures from multiple lasers to distinguish fluorescent labels in individual cells; and the Aurora Cell Sorting System, which leverages full-spectrum profiling technology to further expand the potential applications in cell analysis.

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Insider Buying and Selling by Quarter for Cytek Biosciences (NASDAQ:CTKB)

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