Hhlr Advisors LTD. Purchases New Position in Cytek Biosciences, Inc. $CTKB

Hhlr Advisors LTD. acquired a new position in Cytek Biosciences, Inc. (NASDAQ:CTKB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,657,030 shares of the company’s stock, valued at approximately $29,491,000. Cytek Biosciences makes up about 3.5% of Hhlr Advisors LTD.’s investment portfolio, making the stock its 8th biggest holding. Hhlr Advisors LTD. owned approximately 5.12% of Cytek Biosciences as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CTKB. Simcoe Capital LLC purchased a new position in Cytek Biosciences during the fourth quarter valued at approximately $1,507,000. GSA Capital Partners LLP purchased a new stake in Cytek Biosciences during the second quarter worth $742,000. Pallas Capital Advisors LLC bought a new stake in Cytek Biosciences during the 2nd quarter valued at $50,000. Bank of America Corp DE boosted its position in Cytek Biosciences by 17.9% during the 1st quarter. Bank of America Corp DE now owns 1,009,054 shares of the company’s stock valued at $4,410,000 after acquiring an additional 152,893 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Cytek Biosciences by 72.7% in the 1st quarter. Quantinno Capital Management LP now owns 51,212 shares of the company’s stock valued at $224,000 after acquiring an additional 21,564 shares during the period. 69.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cytek Biosciences in a research note on Wednesday, June 24th. Stephens cut their target price on Cytek Biosciences from $5.50 to $4.75 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Finally, Morgan Stanley set a $5.00 price target on shares of Cytek Biosciences in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cytek Biosciences has an average rating of “Hold” and an average target price of $5.56.

Cytek Biosciences Trading Down 0.2%

Shares of CTKB opened at $4.57 on Thursday. The firm has a market cap of $594.01 million, a PE ratio of -7.37 and a beta of 1.17. Cytek Biosciences, Inc. has a 12 month low of $3.28 and a 12 month high of $6.18. The stock has a fifty day moving average price of $4.47 and a 200-day moving average price of $4.36.

Cytek Biosciences (NASDAQ:CTKB) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). Cytek Biosciences had a negative return on equity of 12.40% and a negative net margin of 38.98%.The firm had revenue of $48.14 million for the quarter, compared to the consensus estimate of $47.31 million. As a group, research analysts forecast that Cytek Biosciences, Inc. will post -0.3 EPS for the current year.

Cytek Biosciences Company Profile

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.