879,786 Shares in Alpha Teknova, Inc. $TKNO Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 879,786 shares of Alpha Teknova in the second quarter, valued at approximately $5.0 million and representing about 1.64% of the company. Institutional investors collectively own 13.81% of TKNO.
• Alpha Teknova reported quarterly revenue of $12.19 million and an adjusted loss of $0.06 per share, beating analyst estimates for revenue of $10.95 million and a loss of $0.08 per share.
• Analyst sentiment remains mixed: BTIG and Roth Capital issued Buy ratings, while the consensus rating is Hold with an average price target of $7.50. TKNO shares opened at $6.92 and have traded between $1.91 and $7.84 over the past year.

BlackRock Inc. acquired a new stake in Alpha Teknova, Inc. (NASDAQ:TKNO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 879,786 shares of the company's stock, valued at approximately $4,997,000. BlackRock Inc. owned approximately 1.64% of Alpha Teknova as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TKNO. Goldman Sachs Group Inc. lifted its holdings in Alpha Teknova by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 90,595 shares of the company's stock worth $470,000 after buying an additional 36,763 shares in the last quarter. Geode Capital Management LLC boosted its position in Alpha Teknova by 64.4% in the 2nd quarter. Geode Capital Management LLC now owns 298,850 shares of the company's stock valued at $1,468,000 after buying an additional 117,016 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alpha Teknova by 123.1% during the second quarter. JPMorgan Chase & Co. now owns 8,163 shares of the company's stock valued at $40,000 after acquiring an additional 4,504 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Alpha Teknova during the second quarter valued at about $96,000. Finally, Marshall Wace LLP increased its position in shares of Alpha Teknova by 83.0% during the second quarter. Marshall Wace LLP now owns 90,032 shares of the company's stock worth $442,000 after acquiring an additional 40,825 shares during the last quarter. Hedge funds and other institutional investors own 13.81% of the company's stock.

Alpha Teknova Trading Down 4.4%

Shares of NASDAQ TKNO opened at $6.92 on Friday. The company has a quick ratio of 3.48, a current ratio of 4.49 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average price is $6.13 and its two-hundred day moving average price is $4.38. Alpha Teknova, Inc. has a 52-week low of $1.91 and a 52-week high of $7.84. The stock has a market capitalization of $370.98 million, a P/E ratio of -22.32 and a beta of 0.72.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $12.19 million during the quarter, compared to the consensus estimate of $10.95 million. Alpha Teknova had a negative return on equity of 24.94% and a negative net margin of 38.37%. On average, analysts anticipate that Alpha Teknova, Inc. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TKNO has been the subject of a number of recent analyst reports. Weiss Ratings lowered Alpha Teknova from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Zacks Research raised Alpha Teknova to a "hold" rating in a research report on Thursday, August 6th. Roth Capital assumed coverage on Alpha Teknova in a research note on Wednesday, August 5th. They set a "buy" rating and a $7.00 target price for the company. BTIG Research raised shares of Alpha Teknova from a "neutral" rating to a "buy" rating and set a $8.00 price target for the company in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Alpha Teknova from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $7.50.

Alpha Teknova 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.

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