Raymond James Financial Inc. Makes New Investment in Cytek Biosciences, Inc. (NASDAQ:CTKB)

Raymond James Financial Inc. acquired a new stake in Cytek Biosciences, Inc. (NASDAQ:CTKB) in the 4th quarter, Holdings Channel.com reports. The fund acquired 117,870 shares of the company’s stock, valued at approximately $765,000.

A number of other large investors have also bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Cytek Biosciences by 280.3% in the fourth 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 in the last quarter. PNC Financial Services Group Inc. increased its holdings in Cytek Biosciences by 111.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,850 shares of the company’s stock worth $57,000 after purchasing an additional 4,665 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Cytek Biosciences in the 4th quarter valued at about $71,000. Cibc World Markets Corp acquired a new stake in shares of Cytek Biosciences in the 4th quarter valued at about $74,000. Finally, Bailard Inc. acquired a new position in shares of Cytek Biosciences during the fourth quarter worth about $123,000. 69.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler reduced their price target on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group set a $5.25 price objective on shares of Cytek Biosciences in a research note on Sunday, February 2nd. Finally, Stephens reiterated an “overweight” rating and issued a $6.00 target price on shares of Cytek Biosciences in a research note on Wednesday, March 19th.

Cytek Biosciences Price Performance

CTKB stock opened at $3.68 on Wednesday. Cytek Biosciences, Inc. has a one year low of $3.27 and a one year high of $7.63. The stock has a market cap of $469.56 million, a price-to-earnings ratio of -45.99 and a beta of 1.42. The company has a fifty day moving average price of $3.95 and a two-hundred day moving average price of $5.29.

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.