Telesis Bio, Inc. (NASDAQ:DNAY – Get Rating) shares traded up 11.4% on Monday . The company traded as high as $1.95 and last traded at $1.85. 49,762 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 54,063 shares. The stock had previously closed at $1.66.

Wall Street Analysts Forecast Growth

Separately, KeyCorp cut their price objective on shares of Telesis Bio from $8.00 to $5.00 and set an "overweight" rating for the company in a research report on Wednesday, November 9th.

Telesis Bio Stock Down 4.5 %

The company has a quick ratio of 4.68, a current ratio of 4.86 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $1.76 and a two-hundred day moving average of $1.68. The firm has a market capitalization of $56.39 million, a price-to-earnings ratio of -1.11 and a beta of 1.36.

Hedge Funds Weigh In On Telesis Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Penn Capital Management Company LLC bought a new position in shares of Telesis Bio during the second quarter valued at $944,000. Millennium Management LLC lifted its holdings in Telesis Bio by 73.3% during the 2nd quarter. Millennium Management LLC now owns 433,622 shares of the company's stock worth $781,000 after buying an additional 183,440 shares during the period. Vanguard Group Inc. grew its position in shares of Telesis Bio by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 361,891 shares of the company's stock valued at $1,944,000 after buying an additional 46,974 shares during the last quarter. Penbrook Management LLC increased its stake in shares of Telesis Bio by 44.3% in the third quarter. Penbrook Management LLC now owns 268,850 shares of the company's stock valued at $446,000 after buying an additional 82,560 shares during the period. Finally, State Street Corp raised its position in shares of Telesis Bio by 33.3% during the first quarter. State Street Corp now owns 195,596 shares of the company's stock worth $1,050,000 after acquiring an additional 48,886 shares during the last quarter. Institutional investors and hedge funds own 42.66% of the company's stock.

Telesis Bio Company Profile

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Codex DNA, Inc, a synthetic biology company, manufactures and sells synthetic biology instruments, reagents, and associated products and related services, primarily to pharmaceutical and academic laboratories worldwide. Its solutions include BioXp system that empowers researchers to go from a digital DNA sequence to endpoint-ready synthetic DNA; BioXp portal, an online portal that offers an intuitive guided workflow and design tools for building new DNA sequences and assembling them into vectors of choice; BioXp kits that contain building blocks and reagents, including its Gibson Assembly branded reagents, for specific synthetic biology workflow applications; Cloud-based scripts; Benchtop reagents that contain all the reagents necessary to proceed with a specific synthetic biology workflow on the benchtop using products generated on the BioXp system; Biofoundry Services, which enable a customer to order and receive the BioXp system endpoint-ready products, such as genes, clones, cell-free amplified DNA, and variant libraries; and short oligo ligation assembly enzymatic DNA synthesis.

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