Alpha Teknova (NASDAQ:TKNO) Shares Gap Up – What’s Next?

Alpha Teknova, Inc. (NASDAQ:TKNO)’s share price 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.

Analyst Upgrades and Downgrades

Separately, Craig Hallum initiated coverage on Alpha Teknova in a report on Monday. They set a “buy” rating and a $12.00 price target on the stock.

Alpha Teknova Stock Performance

The company’s 50-day moving average price is $8.48 and its 200 day moving average price is $6.53. The stock has a market capitalization of $429.15 million, a PE ratio of -10.88 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.

Institutional Trading of Alpha Teknova

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Alpha Teknova by 622.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,400 shares of the company’s stock worth $37,000 after acquiring an additional 3,791 shares in the last quarter. Mount Lucas Management LP purchased a new stake in Alpha Teknova in the fourth quarter worth $75,000. China Universal Asset Management Co. Ltd. bought a new position in Alpha Teknova in the fourth quarter worth $94,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Alpha Teknova during the fourth quarter valued at $180,000. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Alpha Teknova during the 4th quarter valued at $240,000. 13.81% of the stock is currently owned by hedge funds and other institutional investors.

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.