Wealth Enhancement Advisory Services LLC Grows Position in Cytek Biosciences, Inc. $CTKB

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) by 97.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,067 shares of the company’s stock after purchasing an additional 15,351 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Cytek Biosciences were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its holdings in Cytek Biosciences by 6.8% during the first quarter. New York State Teachers Retirement System now owns 48,463 shares of the company’s stock valued at $194,000 after purchasing an additional 3,100 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Cytek Biosciences during the first quarter valued at about $2,841,000. Principal Financial Group Inc. lifted its holdings in Cytek Biosciences by 2.7% during the first quarter. Principal Financial Group Inc. now owns 520,743 shares of the company’s stock valued at $2,088,000 after purchasing an additional 13,818 shares during the last quarter. Nuveen LLC purchased a new stake in Cytek Biosciences during the first quarter valued at about $1,223,000. Finally, 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 during the last quarter. 69.46% of the stock is owned by hedge funds and other institutional investors.

Cytek Biosciences Trading Down 2.3%

CTKB stock opened at $3.85 on Monday. The company’s 50 day moving average is $3.91 and its 200 day moving average is $3.56. The stock has a market cap of $489.80 million, a price-to-earnings ratio of -77.00 and a beta of 1.31. Cytek Biosciences, Inc. has a 1-year low of $2.37 and a 1-year high of $7.63.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings data on Tuesday, November 28th. The company reported $0.04 earnings per share for the quarter. The company had revenue of $40.48 million for the quarter. Cytek Biosciences had a negative net margin of 3.27% and a negative return on equity of 1.66%. As a group, sell-side analysts forecast that Cytek Biosciences, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cytek Biosciences in a report on Wednesday, October 8th. Zacks Research upgraded Cytek Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.60.

About Cytek Biosciences

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.