Raymond James Financial Inc. Invests $716,000 in Alpha Teknova, Inc. (NASDAQ:TKNO)

Raymond James Financial Inc. acquired a new stake in Alpha Teknova, Inc. (NASDAQ:TKNO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 85,779 shares of the company's stock, valued at approximately $716,000. Raymond James Financial Inc. owned about 0.16% of Alpha Teknova at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TKNO. JPMorgan Chase & Co. increased its stake in shares of Alpha Teknova by 622.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,400 shares of the company's stock valued at $37,000 after acquiring an additional 3,791 shares during the last quarter. Mount Lucas Management LP bought a new stake in Alpha Teknova in the fourth quarter valued at approximately $75,000. China Universal Asset Management Co. Ltd. acquired a new stake in Alpha Teknova in the fourth quarter worth $94,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Alpha Teknova during the fourth quarter worth $180,000. Finally, Whalen Wealth Management Inc. acquired a new position in shares of Alpha Teknova in the 4th quarter valued at $240,000. Institutional investors and hedge funds own 13.81% of the company's stock.

Alpha Teknova Stock Down 1.3 %

NASDAQ:TKNO opened at $5.93 on Wednesday. The stock has a 50-day simple moving average of $5.74 and a 200 day simple moving average of $7.11. Alpha Teknova, Inc. has a 52-week low of $1.16 and a 52-week high of $10.37. The company has a market cap of $316.91 million, a PE ratio of -8.01 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.94 and a current ratio of 4.73.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter. Alpha Teknova had a negative net margin of 87.17% and a negative return on equity of 35.30%. The business had revenue of $9.27 million during the quarter, compared to analyst estimates of $9.10 million. On average, sell-side analysts expect that Alpha Teknova, Inc. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated coverage on Alpha Teknova in a research note on Monday, February 10th. They set a "buy" rating and a $12.00 price objective on the stock.

Alpha Teknova Company 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.

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