Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cytek BioSciences Inc shares valued at $117,400 were sold by Yan Ming on Apr 19 ’24. At $5.87 per share, Yan Ming sold 20,000 shares. The insider’s holdings dropped to 5,988,502 shares worth approximately $33.72 million following the completion of this transaction.
Also, Yan Ming sold 1,900 shares, netting a total of over 13,304 in proceeds. Following the sale of shares at $7.00 each, the insider now holds 6,008,502 shares.
Before that, Yan Ming had sold 20,000 shares from its account. In a trade valued at $134,200, the CHIEF TECHNOLOGY OFFICER traded Cytek BioSciences Inc shares for $6.71 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $33.84 million.
As published in their initiating research note from Stephens on December 14, 2023, Cytek BioSciences Inc [CTKB] has been an Overweight and the price target has been revised to $9. Analysts at Raymond James started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in mid July.
Analyzing CTKB Stock Performance
During the last five days, there has been a drop of approximately -5.54%. Over the course of the year, Cytek BioSciences Inc shares have dropped approximately -38.27%. Shares of the company reached a 52-week high of $9.33 on 03/04/24 and a 52-week low of $5.49 on 04/25/24. A 50-day SMA is recorded $7.05, while a 200-day SMA reached $7.25. Nevertheless, trading volume fell to 0.54 million shares from 0.38 million shares the previous day.
Support And Resistance Levels for Cytek BioSciences Inc (CTKB)
According to the 24-hour chart, there is a support level at 5.50, which, if violated, would cause prices to drop to 5.36. In the upper region, resistance lies at 5.76. The next price resistance is at 5.88. RSI (Relative Strength Index) is 29.54 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.37, which suggests the price will decrease in the coming days. Percent R is at 90.85%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
