Alpha Teknova (NASDAQ:TKNO) Stock Price Down 2.2% – Here’s What Happened

Alpha Teknova, Inc. (NASDAQ:TKNO) traded down 2.2% during mid-day trading on Wednesday . The company traded as low as $5.23 and last traded at $5.29. 120,656 shares were traded during trading, a decline of 44% from the average daily volume of 214,871 shares. The stock had previously closed at $5.41.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Teknova in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alpha Teknova presently has an average rating of “Hold” and a consensus target price of $8.00.

Alpha Teknova Price Performance

The company has a market cap of $297.48 million, a price-to-earnings ratio of -17.25 and a beta of 0.62. The company’s 50 day moving average price is $4.78 and its 200 day moving average price is $3.59. The company has a current ratio of 4.59, a quick ratio of 3.60 and a debt-to-equity ratio of 0.20.

Alpha Teknova (NASDAQ:TKNO) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Alpha Teknova had a negative net margin of 41.07% and a negative return on equity of 24.32%. The firm had revenue of $11.08 million during the quarter, compared to analysts’ expectations of $10.23 million.

Institutional Investors Weigh In On Alpha Teknova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Roubaix Capital LLC boosted its holdings in Alpha Teknova by 88.5% during the first quarter. Roubaix Capital LLC now owns 1,882,355 shares of the company’s stock worth $5,440,000 after buying an additional 883,823 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Alpha Teknova in the first quarter valued at about $42,000. XTX Topco Ltd purchased a new stake in shares of Alpha Teknova in the fourth quarter valued at about $77,000. Marshall Wace LLP grew its position in shares of Alpha Teknova by 286.1% in the fourth quarter. Marshall Wace LLP now owns 50,156 shares of the company’s stock valued at $191,000 after purchasing an additional 37,164 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Alpha Teknova in the fourth quarter valued at approximately $239,000. Institutional investors and hedge funds own 13.81% of the company’s stock.

Alpha Teknova Company Profile

Alpha Teknova, Inc (NASDAQ: TKNO) is a life science tools and reagents company that develops, manufactures and distributes proprietary products to support research, drug discovery and biomanufacturing. Its offerings target academic institutions, pharmaceutical and biotechnology firms, and diagnostic developers, with a focus on high-purity reagents and optimized workflows designed to accelerate molecular biology and protein science applications.

The company’s portfolio includes molecular biology reagents, cell culture buffers, in vitro translation kits, custom recombinant proteins, high-throughput screening buffers and other specialized formulations.