Mount Lucas Management LP Acquires 51,000 Shares of Alpha Teknova, Inc. (NASDAQ:TKNO)

Mount Lucas Management LP boosted its holdings in Alpha Teknova, Inc. (NASDAQ:TKNO - Free Report) by 566.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,000 shares of the company's stock after purchasing an additional 51,000 shares during the quarter. Mount Lucas Management LP owned about 0.11% of Alpha Teknova worth $311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in shares of Alpha Teknova by 14.3% during the 4th quarter. NewEdge Advisors LLC now owns 15,632 shares of the company's stock worth $131,000 after acquiring an additional 1,953 shares during the period. Squarepoint Ops LLC raised its stake in shares of Alpha Teknova by 8.4% during the fourth quarter. Squarepoint Ops LLC now owns 30,985 shares of the company's stock valued at $259,000 after purchasing an additional 2,388 shares in the last quarter. JPMorgan Chase & Co. raised its position in Alpha Teknova by 622.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,400 shares of the company's stock worth $37,000 after acquiring an additional 3,791 shares in the last quarter. Bank of America Corp DE increased its stake in Alpha Teknova by 1.8% in the 4th quarter. Bank of America Corp DE now owns 221,285 shares of the company's stock worth $1,848,000 after purchasing an additional 3,904 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Alpha Teknova by 46.2% in the 4th quarter. Two Sigma Investments LP now owns 15,148 shares of the company's stock valued at $126,000 after buying an additional 4,789 shares in the last quarter. Hedge funds and other institutional investors own 13.81% of the company's stock.

Insiders Place Their Bets

In other news, Director Martha J. Demski sold 8,000 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $5.06, for a total value of $40,480.00. Following the completion of the sale, the director directly owned 12,000 shares of the company's stock, valued at $60,720. This represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.50% of the company's stock.

Alpha Teknova Stock Up 0.2%

TKNO stock traded up $0.01 during mid-day trading on Friday, reaching $5.18. The company had a trading volume of 126,957 shares, compared to its average volume of 378,973. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.64 and a quick ratio of 4.71. The stock has a 50 day simple moving average of $5.42 and a two-hundred day simple moving average of $6.35. The company has a market capitalization of $276.82 million, a price-to-earnings ratio of -10.79 and a beta of 0.33. Alpha Teknova, Inc. has a 52 week low of $3.26 and a 52 week high of $10.37.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $9.60 million during the quarter, compared to analysts' expectations of $9.41 million. Alpha Teknova had a negative return on equity of 28.48% and a negative net margin of 60.90%. As a group, equities analysts predict that Alpha Teknova, Inc. will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Stephens upgraded Alpha Teknova to a "strong-buy" rating and set a $8.00 price target for the company in a report on Tuesday.

About Alpha Teknova

Alpha Teknova, Inc produces critical reagents for the research, discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics in the United States and internationally. 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.