Cytek Biosciences, Inc. (NASDAQ:CTKB) Short Interest Up 5.4% in September

Cytek Biosciences, Inc. (NASDAQ:CTKB) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 4,300,000 shares, a growth of 5.4% from the September 15th total of 4,080,000 shares. Based on an average daily trading volume, of 632,100 shares, the days-to-cover ratio is presently 6.8 days. Approximately 3.6% of the shares of the company are short sold.

Institutional Trading of Cytek Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SlateStone Wealth LLC acquired a new position in Cytek Biosciences in the second quarter valued at approximately $70,000. Quadrature Capital Ltd purchased a new stake in Cytek Biosciences during the first quarter worth $102,000. Dark Forest Capital Management LP boosted its holdings in Cytek Biosciences by 85.3% during the second quarter. Dark Forest Capital Management LP now owns 21,098 shares of the company’s stock worth $118,000 after buying an additional 9,711 shares in the last quarter. ProShare Advisors LLC grew its position in Cytek Biosciences by 7.6% during the first quarter. ProShare Advisors LLC now owns 23,941 shares of the company’s stock valued at $161,000 after buying an additional 1,687 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Cytek Biosciences in the second quarter valued at $140,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th.

Cytek Biosciences Trading Down 4.1 %

CTKB opened at $5.14 on Friday. The firm has a market capitalization of $674.74 million, a PE ratio of -57.11 and a beta of 1.30. Cytek Biosciences has a 12-month low of $3.80 and a 12-month high of $9.87. The firm has a 50 day moving average of $5.31 and a two-hundred day moving average of $5.77.

Cytek Biosciences (NASDAQ:CTKB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The business had revenue of $46.62 million during the quarter, compared to analysts’ expectations of $49.02 million. Cytek Biosciences had a negative net margin of 8.88% and a negative return on equity of 3.75%. During the same period in the previous year, the company posted ($0.02) earnings per share. As a group, analysts predict that Cytek Biosciences will post -0.11 EPS for the current fiscal year.

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.