Alpha Teknova (NASDAQ:TKNO) Stock Price Up 22.5% – Here’s Why

Alpha Teknova, Inc. (NASDAQ:TKNO)’s stock price traded up 22.5% during trading on Monday . The company traded as high as $9.68 and last traded at $9.85. 131,387 shares changed hands during trading, a decline of 37% from the average session volume of 207,518 shares. The stock had previously closed at $8.04.

Alpha Teknova Trading Up 16.2 %

The firm has a 50 day moving average price of $7.99 and a two-hundred day moving average price of $5.94. The firm has a market capitalization of $498.16 million, a P/E ratio of -12.66 and a beta of 0.34. 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) last released its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Alpha Teknova had a negative return on equity of 35.30% and a negative net margin of 87.17%. The company had revenue of $9.58 million during the quarter, compared to analysts’ expectations of $9.30 million. During the same quarter in the previous year, the company earned ($0.34) EPS. On average, equities research analysts expect that Alpha Teknova, Inc. will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpha Teknova

Institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new stake in Alpha Teknova in the fourth quarter valued at approximately $94,000. Whalen Wealth Management Inc. acquired a new position in Alpha Teknova during the 4th quarter valued at $240,000. State Street Corp grew its position in Alpha Teknova by 249.3% in the 3rd quarter. State Street Corp now owns 76,645 shares of the company’s stock worth $371,000 after purchasing an additional 54,700 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alpha Teknova by 24.4% during the third quarter. Geode Capital Management LLC now owns 188,173 shares of the company’s stock valued at $911,000 after buying an additional 36,914 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Alpha Teknova in the third quarter valued at about $1,483,000. 13.81% of the stock is currently owned by institutional investors and hedge funds.

About Alpha Teknova

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.