Ming Yan Sells 20,000 Shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) Stock

Cytek Biosciences, Inc. (NASDAQ:CTKB) CTO Ming Yan sold 20,000 shares of Cytek Biosciences stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $5.87, for a total transaction of $117,400.00. Following the transaction, the chief technology officer now directly owns 5,988,502 shares in the company, valued at $35,152,506.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ming Yan also recently made the following trade(s):

• On Tuesday, April 9th, Ming Yan sold 1,900 shares of Cytek Biosciences stock. The stock was sold at an average price of $7.00, for a total transaction of $13,300.00.
• On Monday, March 18th, Ming Yan sold 20,000 shares of Cytek Biosciences stock. The stock was sold at an average price of $6.77, for a total transaction of $135,400.00.

Cytek Biosciences Stock Performance

Cytek Biosciences stock opened at $5.66 on Thursday. The company’s 50 day simple moving average is $7.07 and its 200-day simple moving average is $7.08. The company has a market capitalization of $740.44 million, a price-to-earnings ratio of -62.88 and a beta of 1.37. Cytek Biosciences, Inc. has a 1 year low of $3.80 and a 1 year high of $12.31.

Cytek Biosciences (NASDAQ:CTKB) last released its quarterly earnings results on Wednesday, March 13th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $58.23 million for the quarter, compared to the consensus estimate of $56.66 million. Cytek Biosciences had a negative net margin of 6.29% and a negative return on equity of 1.40%. Equities analysts expect that Cytek Biosciences, Inc. will post -0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTKB. The Goldman Sachs Group lifted their target price on shares of Cytek Biosciences from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Piper Sandler reduced their price target on shares of Cytek Biosciences from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Cytek Biosciences by 4.3% in the third quarter. Vanguard Group Inc. now owns 11,079,421 shares of the company’s stock valued at $61,158,000 after purchasing an additional 461,142 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cytek Biosciences by 19.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 835,693 shares of the company’s stock valued at $4,613,000 after purchasing an additional 136,201 shares in the last quarter. Swiss National Bank grew its holdings in shares of Cytek Biosciences by 9.6% in the third quarter. Swiss National Bank now owns 193,900 shares of the company’s stock valued at $1,070,000 after purchasing an additional 17,000 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Cytek Biosciences by 19.9% in the third quarter. Texas Permanent School Fund Corp now owns 84,520 shares of the company’s stock valued at $467,000 after purchasing an additional 14,052 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Cytek Biosciences by 7.4% in the third quarter. Wellington Management Group LLP now owns 1,445,538 shares of the company’s stock valued at $7,979,000 after purchasing an additional 99,170 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Cytek Biosciences Company 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.