Can new diagnostic tools boost the evaluation of Cytek Biosciences (CTKB)?

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Investment management firm RGA Investment Advisors recently released its third quarter 2022 letter to investors. A copy of it can be downloaded here. In the third quarter, the market continued the bearish trend of the first half of 2022, and September was the worst month for the fund. But the firm believes it’s a good time to invest for the long term. The fund has invested in the biotechnology tools and instruments and life sciences verticals for better future returns. You can check out the fund’s top 5 holdings for its top picks in 2022.

In the third quarter 2022 letter to investors, RGA Investment Advisors highlighted stocks like Cytek Biosciences, Inc. (NASDAQ:CTKB). Based in Fremont, Calif., Cytek Biosciences, Inc. (NASDAQ: CTKB) is a provider of cell analysis tools for biomedical research and clinical applications. On October 19, 2022, Cytek Biosciences, Inc. (NASDAQ: CTKB) stock closed at $14.56 per share. The one-month return of Cytek Biosciences, Inc. (NASDAQ:CTKB) was 14.47% and its shares have lost 39.16% of their value over the past 52 weeks. Cytek Biosciences, Inc. (NASDAQ: CTKB) has a market capitalization of $1.96 billion.

RGA Investment Advisors made the following comment about Cytek Biosciences, Inc. (NASDAQ:CTKB) in its Q3 2022 Letter to Investors:

“Cytek Biosciences, Inc. (NASDAQ:CTKB) received coverage in our latest newsletter. We believe CTKB is tackling an industry with an installed base of 50,000 flow cytometers growing around 8% annualized, with superior technology, a cost advantage over all competitors and only 2.5% of opportunities to be seized. Fueled by a massive supply of dry powder, they can build the razor to complement their already valuable blade. is profitable (on an EBITDA and cash flow basis) and growing rapidly, for much more reasonable multiples than some TMT companies posting similar metrics, even after the recent sale! CTKB’s state-of-the-art flow cytometers are preferred in research phases by CGT companies. Beyond research, one of the critical growths of the coming years will be in the clinical space, ie diagnostics. The CTKB is actively developing diagnostic tools that will serve as companions to cell therapy treatments. It’s an area that receives little approval in today’s assessment, but can become quite significant down the line.”

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Cytek Biosciences, Inc. (NASDAQ:CTKB) is not on our list of the 30 most popular stocks among hedge funds. According to our database, 14 hedge fund portfolios held Cytek Biosciences, Inc. (NASDAQ:CTKB) at the end of the second quarter, up from 18 in the prior quarter.

We discussed Cytek Biosciences, Inc. (NASDAQ:CTKB) in another article and shared RGA Investment Advisors’ views on the company over the past quarter. Additionally, please see our Q3 2022 Hedge Fund Investor Letters page for more letters to hedge fund investors and other leading investors.

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Disclosure: none. This article originally appeared on Insider Monkey.

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