Alpha Teknova (NASDAQ:TKNO) Shares Down 2.3%

Defense World · Oct 1, 2022 14:21

Shares of Alpha Teknova, Inc. (NASDAQ:TKNO – Get Rating) traded down 2.3% during mid-day trading on Friday . The stock traded as low as $3.28 and last traded at $3.34. 347,967 shares were traded during trading, an increase of 510% from the average session volume of 57,065 shares. The stock had previously closed at $3.42.

Wall Street Analysts Forecast Growth

Separately, Stephens decreased their price objective on Alpha Teknova from $22.00 to $15.00 and set an "overweight" rating on the stock in a report on Thursday, August 11th.

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Alpha Teknova Stock Down 2.3 %

The stock has a market cap of $93.82 million, a price-to-earnings ratio of -4.99 and a beta of -0.80. The company has a quick ratio of 6.10, a current ratio of 6.77 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $4.95 and a two-hundred day moving average of $8.64.

Alpha Teknova (NASDAQ:TKNO – Get Rating) last issued its earnings results on Wednesday, August 10th. The company reported ($0.22) earnings per share for the quarter. Alpha Teknova had a negative net margin of 43.93% and a negative return on equity of 13.25%. The firm had revenue of $11.69 million during the quarter, compared to analyst estimates of $10.80 million. During the same quarter in the previous year, the business posted ($0.52) EPS. As a group, analysts predict that Alpha Teknova, Inc. will post -0.97 EPS for the current fiscal year.

Insider Activity at Alpha Teknova

In other news, Director J Matthew Mackowski bought 10,000 shares of Alpha Teknova stock in a transaction that occurred on Wednesday, August 24th. The shares were purchased at an average price of $4.97 per share, for a total transaction of $49,700.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at $24,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Stephen Gunstream acquired 18,000 shares of the business's stock in a transaction on Monday, August 15th. The shares were bought at an average cost of $5.13 per share, with a total value of $92,340.00. Following the completion of the transaction, the chief executive officer now directly owns 18,000 shares of the company's stock, valued at approximately $92,340. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Matthew Mackowski acquired 10,000 shares of the business's stock in a transaction on Wednesday, August 24th. The stock was bought at an average cost of $4.97 per share, for a total transaction of $49,700.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at $24,850. The disclosure for this purchase can be found here. 15.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nicholas Investment Partners LP raised its position in Alpha Teknova by 11.8% in the first quarter. Nicholas Investment Partners LP now owns 720,524 shares of the company's stock valued at $9,950,000 after purchasing an additional 76,139 shares during the period. Grandeur Peak Global Advisors LLC raised its position in Alpha Teknova by 16.1% in the fourth quarter. Grandeur Peak Global Advisors LLC now owns 220,866 shares of the company's stock valued at $4,523,000 after purchasing an additional 30,609 shares during the period. Northern Trust Corp raised its position in Alpha Teknova by 13.2% in the fourth quarter. Northern Trust Corp now owns 69,270 shares of the company's stock valued at $1,419,000 after purchasing an additional 8,069 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Alpha Teknova during the first quarter worth about $145,000. Finally, JPMorgan Chase & Co. increased its position in shares of Alpha Teknova by 27.9% during the first quarter. JPMorgan Chase & Co. now owns 6,571 shares of the company's stock worth $91,000 after acquiring an additional 1,435 shares during the last quarter. 24.59% of the stock is owned by hedge funds and other institutional investors.

About Alpha Teknova

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Alpha Teknova, Inc provides critical reagents for life sciences market in the United States and internationally. Its reagents enable the discovery, development, and production of biopharmaceutical products, such as drug therapies, novel vaccines, and molecular diagnostics. The company offers pre-poured media plates for cell growth and cloning; liquid cell culture media and supplements for cellular expansion; and molecular biology reagents for sample manipulation, resuspension, and purification.