Zacks Investment Research Downgrades Alpha Teknova (NASDAQ:TKNO) to Sell

Alpha Teknova (NASDAQ:TKNOGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, 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 decreased their target price on shares of Alpha Teknova from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 16th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $27.33.

NASDAQ TKNO opened at $13.15 on Friday. The company has a current ratio of 13.07, a quick ratio of 12.37 and a debt-to-equity ratio of 0.08. Alpha Teknova has a 1-year low of $12.35 and a 1-year high of $30.89. The company has a 50 day moving average of $15.17 and a 200-day moving average of $18.37.

Alpha Teknova (NASDAQ:TKNOGet Rating) last released its quarterly earnings results on Tuesday, March 15th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. Sell-side analysts expect that Alpha Teknova will post -0.93 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in Alpha Teknova by 30.9% during the fourth quarter. BlackRock Inc. now owns 424,119 shares of the company’s stock valued at $8,686,000 after acquiring an additional 100,223 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Alpha Teknova during the fourth quarter valued at $6,521,000. Millennium Management LLC raised its holdings in shares of Alpha Teknova by 17.9% during the fourth quarter. Millennium Management LLC now owns 302,107 shares of the company’s stock valued at $6,187,000 after purchasing an additional 45,763 shares during the period. Ranger Investment Management L.P. raised its holdings in shares of Alpha Teknova by 18.1% during the fourth quarter. Ranger Investment Management L.P. now owns 264,446 shares of the company’s stock valued at $5,416,000 after purchasing an additional 40,554 shares during the period. Finally, Roubaix Capital LLC acquired a new position in shares of Alpha Teknova during the fourth quarter valued at about $5,241,000. 27.65% of the stock is currently 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.

Further Reading

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