Alpha Teknova (NASDAQ:TKNO) Shares Gap Up – Time to Buy?

Shares of Alpha Teknova, Inc. (NASDAQ:TKNO) gapped up before the market opened on Monday . The stock had previously closed at $9.01, but opened at $9.58. Alpha Teknova shares last traded at $9.43, with a volume of 139,636 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum started coverage on Alpha Teknova in a research note on Monday. They issued a “buy” rating and a $12.00 price target on the stock.

Alpha Teknova Trading Down 6.4 %

The stock has a market cap of $429.15 million, a PE ratio of -10.88 and a beta of 0.34. The firm has a 50-day moving average price of $8.48 and a 200-day moving average price of $6.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.94 and a current ratio of 4.73.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Alpha Teknova by 249.3% during the third quarter. State Street Corp now owns 76,645 shares of the company’s stock valued at $371,000 after buying an additional 54,700 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Alpha Teknova during the 3rd quarter valued at $1,483,000. Roubaix Capital LLC bought a new stake in shares of Alpha Teknova in the 3rd quarter worth $2,015,000. Geode Capital Management LLC increased its holdings in shares of Alpha Teknova by 24.4% in the 3rd quarter. Geode Capital Management LLC now owns 188,173 shares of the company’s stock worth $911,000 after purchasing an additional 36,914 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Alpha Teknova in the fourth quarter worth $94,000. 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.