Bank of America Corp DE Makes New $1.45 Million Investment in Alpha Teknova, Inc. $TKNO

Key Points

• Bank of America acquired 255,760 Alpha Teknova shares in the second quarter, worth approximately $1.45 million and representing 0.48% of the company. Other institutions, including BlackRock, also initiated positions, bringing institutional ownership to 13.81%.
• Alpha Teknova reported quarterly revenue of $12.19 million, exceeding estimates of $10.95 million, while its loss of $0.06 per share was narrower than expected. Analysts project a full-year loss of $0.28 per share.
• Analyst sentiment is mixed but includes several recent upgrades and buy ratings; the consensus rating is “Hold” with an $8.00 target price. The stock recently traded at $8.86, near its 52-week high of $9.48.

Bank of America Corp DE acquired a new position in Alpha Teknova, Inc. (NASDAQ:TKNO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 255,760 shares of the company's stock, valued at approximately $1,453,000. Bank of America Corp DE owned about 0.48% of Alpha Teknova at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC purchased a new stake in Alpha Teknova during the second quarter worth about $62,000. BlackRock Inc. purchased a new position in Alpha Teknova in the second quarter valued at about $4,997,000. Deutsche Bank AG bought a new position in shares of Alpha Teknova during the 2nd quarter valued at approximately $62,000. Fielder Capital Group LLC bought a new position in shares of Alpha Teknova during the 2nd quarter valued at approximately $143,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Alpha Teknova during the 2nd quarter worth approximately $604,000. Institutional investors own 13.81% of the company's stock.

Alpha Teknova Stock Performance

NASDAQ:TKNO opened at $8.86 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.48 and a current ratio of 4.49. Alpha Teknova, Inc. has a 52-week low of $1.91 and a 52-week high of $9.48. The firm has a market cap of $474.98 million, a price-to-earnings ratio of -28.58 and a beta of 0.85. The business's fifty day moving average is $7.08 and its 200 day moving average is $5.16.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last posted its 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. Alpha Teknova had a negative return on equity of 24.94% and a negative net margin of 38.37%.The business had revenue of $12.19 million during the quarter, compared to analyst estimates of $10.95 million. Research analysts predict that Alpha Teknova, Inc. will post -0.28 EPS for the current year.

Wall Street Analyst Weigh In

TKNO has been the subject of several research reports. BTIG Research raised Alpha Teknova from a "neutral" rating to a "buy" rating and set a $8.00 price objective for the company in a report on Tuesday, August 11th. Jefferies Financial Group initiated coverage on Alpha Teknova in a research note on Thursday, September 17th. They issued a "buy" rating and a $9.00 target price on the stock. Wall Street Zen raised Alpha Teknova from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings downgraded Alpha Teknova from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Finally, Roth Capital assumed coverage on Alpha Teknova in a report on Wednesday, August 5th. They issued a "buy" rating and a $7.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $8.00.

Alpha Teknova Company Profile

Alpha Teknova, Inc NASDAQ: TKNO develops and manufactures critical reagents and solutions used in life sciences research, biopharmaceutical development, and laboratory testing. The company supplies ready-to-use and custom-formulated biological buffers, media, process liquids, and other high-purity reagents designed to support research and production workflows.

Its products and services are used across applications including cell and gene therapy, molecular diagnostics, next-generation sequencing, vaccine development, and other genomics and bioprocessing activities.

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