New York State Common Retirement Fund Has $1.15 Million Stock Position in Cytek Biosciences, Inc. $CTKB

New York State Common Retirement Fund lessened its stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) by 84.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 331,190 shares of the company’s stock after selling 1,757,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Cytek Biosciences were worth $1,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTKB. Bank of Montreal Can grew its holdings in Cytek Biosciences by 110.7% during the second quarter. Bank of Montreal Can now owns 33,072 shares of the company’s stock worth $112,000 after purchasing an additional 17,379 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position 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 valued at $117,000 after buying an additional 15,351 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Cytek Biosciences by 331.8% in the second quarter. PNC Financial Services Group Inc. now owns 16,478 shares of the company’s stock valued at $56,000 after buying an additional 12,662 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Cytek Biosciences by 244.1% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 45,714 shares of the company’s stock worth $155,000 after acquiring an additional 32,427 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Cytek Biosciences during the 2nd quarter worth approximately $52,000. 69.46% of the stock is owned by institutional investors.

Cytek Biosciences Stock Performance

NASDAQ:CTKB opened at $4.46 on Tuesday. Cytek Biosciences, Inc. has a 52 week low of $2.37 and a 52 week high of $6.18. The firm’s 50-day simple moving average is $5.12 and its 200 day simple moving average is $4.51. The firm has a market cap of $570.26 million, a price-to-earnings ratio of -44.60 and a beta of 1.30.

Wall Street Analysts Forecast Growth

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

Cytek Biosciences 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.