Versor Investments LP Acquires Shares of 47,000 Cytek Biosciences, Inc. (NASDAQ:CTKB)

Versor Investments LP acquired a new position in shares of Cytek Biosciences, Inc. (NASDAQ:CTKB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 47,000 shares of the company’s stock, valued at approximately $305,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Cytek Biosciences by 280.3% during the 4th quarter. GAMMA Investing LLC now owns 4,932 shares of the company’s stock valued at $32,000 after buying an additional 3,635 shares during the period. Proficio Capital Partners LLC acquired a new stake in Cytek Biosciences in the fourth quarter valued at approximately $71,000. Olympiad Research LP acquired a new stake in Cytek Biosciences in the third quarter valued at approximately $72,000. Intech Investment Management LLC purchased a new stake in shares of Cytek Biosciences during the third quarter valued at approximately $128,000. Finally, XTX Topco Ltd acquired a new position in shares of Cytek Biosciences during the third quarter worth $145,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Analyst Ratings Changes

CTKB has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $5.25 price target on shares of Cytek Biosciences in a report on Sunday, February 2nd. Piper Sandler upped their price objective on shares of Cytek Biosciences from $8.00 to $8.50 and gave the company an “overweight” rating in a research report on Monday, November 11th.

Cytek Biosciences Stock Down 4.2 %

CTKB stock opened at $4.30 on Tuesday. The stock’s 50 day moving average is $5.79 and its two-hundred day moving average is $5.75. Cytek Biosciences, Inc. has a 52-week low of $4.22 and a 52-week high of $9.33. The company has a market capitalization of $553.89 million, a PE ratio of -53.74 and a beta of 1.40.

Cytek Biosciences announced that its Board of Directors has initiated a share repurchase program on Monday, December 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.