CenterBook Partners LP Takes $1.58 Million Position in Alpha Teknova, Inc. (NASDAQ:TKNO)

Key Points

• CenterBook Partners LP acquired a new position in Alpha Teknova, purchasing 304,546 shares valued at approximately $1.58 million, representing a 0.57% ownership stake.
• Alpha Teknova reported earnings per share of ($0.09) for the latest quarter, exceeding analysts' estimates, and had a revenue of $9.60 million, also above expectations.
• Analysts at Stephens upgraded Alpha Teknova to a "strong-buy" rating with a target price of $8.00.

CenterBook Partners LP bought a new stake in Alpha Teknova, Inc. (NASDAQ:TKNO - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 304,546 shares of the company's stock, valued at approximately $1,581,000. CenterBook Partners LP owned about 0.57% of Alpha Teknova as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in Alpha Teknova by 14.3% in the fourth quarter. NewEdge Advisors LLC now owns 15,632 shares of the company's stock valued at $131,000 after buying an additional 1,953 shares during the last quarter. Squarepoint Ops LLC raised its position in Alpha Teknova by 8.4% in the fourth quarter. Squarepoint Ops LLC now owns 30,985 shares of the company's stock worth $259,000 after acquiring 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 increased its stake in Alpha Teknova by 46.2% in the 4th quarter. Two Sigma Investments LP now owns 15,148 shares of the company's stock worth $126,000 after purchasing an additional 4,789 shares in the last quarter. 13.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Stephens raised Alpha Teknova to a "strong-buy" rating and set a $8.00 target price on the stock in a research note on Tuesday, July 22nd.

Insiders Place Their Bets

In other Alpha Teknova news, Director Martha J. Demski sold 8,000 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $5.06, for a total value of $40,480.00. Following the transaction, the director owned 12,000 shares of the company's stock, valued at approximately $60,720. This represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.50% of the company's stock.

Alpha Teknova Stock Performance

Shares of TKNO stock traded down $0.11 during trading hours on Monday, reaching $4.12. 73,443 shares of the company's stock were exchanged, compared to its average volume of 374,267. Alpha Teknova, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $10.37. The stock has a market capitalization of $220.18 million, a P/E ratio of -9.81 and a beta of 0.32. The business has a fifty day moving average price of $5.06 and a 200-day moving average price of $6.05. The company has a quick ratio of 4.71, a current ratio of 5.64 and a debt-to-equity ratio of 0.17.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.03. The firm had revenue of $10.29 million for the quarter, compared to analysts' expectations of $9.90 million. Alpha Teknova had a negative return on equity of 25.98% and a negative net margin of 55.24%. Analysts predict that Alpha Teknova, Inc. will post -0.58 EPS for the current fiscal year.

Alpha Teknova Profile

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.