Alpha Teknova (NASDAQ:TKNO) Shares Up 6.5%

Alpha Teknova, Inc. (NASDAQ:TKNO)’s share price shot up 6.5% on Tuesday . The company traded as high as $25.98 and last traded at $25.98. 45 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 141,135 shares. The stock had previously closed at $24.40.

A number of brokerages recently weighed in on TKNO. BTIG Research began coverage on shares of Alpha Teknova in a research note on Tuesday, July 20th. They issued a “buy” rating and a $26.00 price target on the stock. Cowen started coverage on shares of Alpha Teknova in a report on Tuesday, July 20th. They issued an “outperform” rating for the company. Stephens started coverage on shares of Alpha Teknova in a report on Tuesday, July 20th. They issued an “overweight” rating and a $27.00 price objective for the company. Zacks Investment Research downgraded shares of Alpha Teknova from a “hold” rating to a “sell” rating in a report on Tuesday, October 5th. Finally, William Blair reiterated an “outperform” rating on shares of Alpha Teknova in a report on Tuesday, July 20th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Alpha Teknova currently has a consensus rating of “Buy” and a consensus price target of $26.50.

The company has a fifty day moving average of $22.19.

Alpha Teknova (NASDAQ:TKNO) last announced its quarterly earnings results on Tuesday, August 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.43). The firm had revenue of $8.31 million for the quarter, compared to analyst estimates of $7.70 million. As a group, sell-side analysts anticipate that Alpha Teknova, Inc. will post -0.38 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new stake in shares of Alpha Teknova during the 2nd quarter worth approximately $1,090,000. Wells Fargo & Company MN acquired a new stake in Alpha Teknova in the 2nd quarter valued at approximately $3,694,000. Woodline Partners LP acquired a new stake in Alpha Teknova in the 2nd quarter valued at approximately $2,036,000. Perceptive Advisors LLC acquired a new stake in Alpha Teknova in the 2nd quarter valued at approximately $712,000. Finally, Grandeur Peak Global Advisors LLC acquired a new stake in Alpha Teknova in the 2nd quarter valued at approximately $3,552,000. Institutional investors and hedge funds own 22.90% of the company’s stock.

About Alpha Teknova (NASDAQ:TKNO)

Alpha Teknova, Inc provides reagents for bioprocessing, bioproduction, and molecular diagnostics. The company's reagents enable the discovery, research, development, and production of biopharmaceutical products, such as drug therapies, novel vaccines, and molecular diagnostics. It offers liquid culture, dry culture, agar, and animal-free media, as well as pre-poured plates, biological buffers, solutions, chemicals, and various treated and certified waters.

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