Alpha Teknova (NASDAQ:TKNO) Upgraded to “Hold” at Zacks Investment Research

Alpha Teknova (NASDAQ:TKNOGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Alpha Teknova Inc. is a provider of critical reagents for the development and production of biopharmaceutical products including drug therapies, novel vaccines and molecular diagnostics. Alpha Teknova Inc. is based in HOLLISTER, Calif. “

Separately, Stephens lowered their price objective on Alpha Teknova from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, March 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $27.33.

NASDAQ:TKNO traded up $0.10 on Thursday, reaching $7.75. 41,190 shares of the company’s stock were exchanged, compared to its average volume of 40,141. The company has a quick ratio of 6.77, a current ratio of 7.28 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $217.31 million and a price-to-earnings ratio of -7.99. The business has a fifty day moving average of $11.99 and a 200-day moving average of $15.72. Alpha Teknova has a 52-week low of $6.38 and a 52-week high of $30.89.

Alpha Teknova (NASDAQ:TKNOGet Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Alpha Teknova had a negative net margin of 37.59% and a negative return on equity of 10.15%. As a group, equities analysts anticipate that Alpha Teknova will post -0.92 earnings per share for the current year.

In other Alpha Teknova news, CFO Matthew Lowell purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average cost of $9.45 per share, with a total value of $94,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $94,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Alpha Teknova by 7.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,357 shares of the company’s stock valued at $376,000 after acquiring an additional 1,224 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alpha Teknova by 27.9% in the first quarter. JPMorgan Chase & Co. now owns 6,571 shares of the company’s stock valued at $91,000 after acquiring an additional 1,435 shares during the period. Citigroup Inc. boosted its holdings in shares of Alpha Teknova by 191.3% in the fourth quarter. Citigroup Inc. now owns 2,578 shares of the company’s stock valued at $53,000 after acquiring an additional 1,693 shares during the period. Bank of America Corp DE boosted its holdings in shares of Alpha Teknova by 605.9% in the fourth quarter. Bank of America Corp DE now owns 4,285 shares of the company’s stock valued at $87,000 after acquiring an additional 3,678 shares during the period. Finally, California State Teachers Retirement System acquired a new stake in shares of Alpha Teknova in the third quarter valued at approximately $94,000. 25.51% of the stock is owned by institutional investors and hedge funds.

About Alpha Teknova (Get Rating)

Alpha Teknova, Inc provides critical reagents for life sciences market in the United States and internationally. Its reagents enable the discovery, development, and production of biopharmaceutical products, such as drug therapies, novel vaccines, and molecular diagnostics. 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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