Short Interest in Alpha Teknova, Inc. (NASDAQ:TKNO) Drops By 41.8%

Alpha Teknova, Inc. (NASDAQ:TKNO) saw a significant decline in short interest in July. As of July 15th, there was short interest totalling 82,600 shares, a decline of 41.8% from the June 30th total of 142,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 458,400 shares, the short-interest ratio is currently 0.2 days.

Alpha Teknova Trading Up 11.8 %

Shares of TKNO stock traded up $0.42 during trading hours on Friday, reaching $3.97. 627,563 shares of the stock were exchanged, compared to its average volume of 225,867. Alpha Teknova has a 12-month low of $1.15 and a 12-month high of $4.27. The company has a current ratio of 5.52, a quick ratio of 3.92 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $1.69 and its 200-day moving average price is $2.36. The firm has a market capitalization of $162.06 million, a price-to-earnings ratio of -3.60 and a beta of 0.33.

Alpha Teknova (NASDAQ:TKNO) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The firm had revenue of $9.29 million during the quarter, compared to analysts’ expectations of $7.80 million. Alpha Teknova had a negative net margin of 97.85% and a negative return on equity of 38.24%. During the same period in the previous year, the company earned ($0.31) EPS. As a group, equities analysts anticipate that Alpha Teknova will post -0.65 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Stephens reaffirmed an “overweight” rating and set a $5.00 price target on shares of Alpha Teknova in a research note on Wednesday, July 10th.

Insider Buying and Selling

In other news, major shareholder Telegraph Hill Partners Iv, L. acquired 12,096,773 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were acquired at an average cost of $1.24 per share, with a total value of $14,999,998.52. Following the acquisition, the insider now directly owns 11,126,929 shares of the company’s stock, valued at $13,797,391.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Stephen Gunstream purchased 80,645 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was bought at an average price of $1.24 per share, for a total transaction of $99,999.80. Following the completion of the transaction, the chief executive officer now owns 243,497 shares in the company, valued at approximately $301,936.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Telegraph Hill Partners Iv, L. acquired 12,096,773 shares of the stock in a transaction dated Friday, July 12th. The stock was bought at an average cost of $1.24 per share, with a total value of $14,999,998.52. Following the completion of the purchase, the insider now directly owns 11,126,929 shares in the company, valued at $13,797,391.96. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 12,217,740 shares of company stock worth $15,149,998. Corporate insiders own 15.20% of the company’s stock.

Institutional Investors Weigh In On Alpha Teknova

Several large investors have recently added to or reduced their stakes in TKNO. FourWorld Capital Management LLC purchased a new stake in Alpha Teknova in the 1st quarter valued at about $135,000. Fielder Capital Group LLC purchased a new position in shares of Alpha Teknova during the fourth quarter valued at $156,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Alpha Teknova in the first quarter valued at about $35,000. Redmile Group LLC lifted its stake in Alpha Teknova by 6.5% in the first quarter. Redmile Group LLC now owns 171,453 shares of the company’s stock worth $434,000 after acquiring an additional 10,448 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in Alpha Teknova by 4.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 247,529 shares of the company’s stock worth $923,000 after acquiring an additional 9,800 shares during the period. 13.81% of the stock is owned by hedge funds and other institutional investors.

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.