CenterBook Partners LP Purchases Shares of 304,546 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 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. acquired a new stake in Alpha Teknova during the fourth quarter worth approximately $9,236,000. Susquehanna International Group LLP lifted its stake in shares of Alpha Teknova by 472.5% in the 4th quarter. Susquehanna International Group LLP now owns 209,409 shares of the company's stock valued at $1,749,000 after acquiring an additional 172,828 shares during the last quarter. Tradewinds LLC. lifted its stake in shares of Alpha Teknova by 205.6% in the 1st quarter. Tradewinds LLC. now owns 133,088 shares of the company's stock valued at $691,000 after acquiring an additional 89,538 shares during the last quarter. 683 Capital Management LLC bought a new position in shares of Alpha Teknova in the 4th quarter valued at $744,000. Finally, Raymond James Financial Inc. bought a new position in Alpha Teknova during the 4th quarter worth $716,000. Institutional investors and hedge funds own 13.81% of the company's stock.

Analyst Upgrades and Downgrades

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

Alpha Teknova Trading Down 2.5%

Shares of TKNO stock traded down $0.11 during mid-day trading on Friday, hitting $4.23. The company's stock had a trading volume of 606,997 shares, compared to its average volume of 344,755. The company's fifty day simple moving average is $5.06 and its 200-day simple moving average is $6.08. Alpha Teknova, Inc. has a 52 week low of $3.45 and a 52 week high of $10.37. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.71 and a current ratio of 5.64. The company has a market cap of $226.05 million, a PE ratio of -10.07 and a beta of 0.32.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $10.29 million during the quarter, compared to analyst estimates of $9.90 million. Alpha Teknova had a negative return on equity of 25.98% and a negative net margin of 55.24%. As a group, equities research analysts expect that Alpha Teknova, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Alpha Teknova

In other news, Director Martha J. Demski sold 8,000 shares of the firm's 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 completion of the sale, the director directly owned 12,000 shares in the company, valued at $60,720. This trade represents a 40.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 12.50% of the stock is currently owned by corporate insiders.

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.