Redmile Group LLC Invests $17.20 Million in Alpha Teknova, Inc. (NASDAQ:TKNO)

Redmile Group LLC purchased a new position in Alpha Teknova, Inc. (NASDAQ:TKNO) during the second quarter, HoldingsChannel reports. The firm purchased 725,000 shares of the company’s stock, valued at approximately $17,204,000.

Several other hedge funds have also recently added to or reduced their stakes in TKNO. Teacher Retirement System of Texas bought a new stake in Alpha Teknova during the second quarter valued at about $356,000. Russell Investments Group Ltd. bought a new stake in shares of Alpha Teknova in the second quarter worth about $396,000. Goldman Sachs Group Inc. bought a new stake in shares of Alpha Teknova in the second quarter worth about $555,000. Altium Capital Management LP bought a new stake in shares of Alpha Teknova in the second quarter worth about $593,000. Finally, Perceptive Advisors LLC bought a new stake in shares of Alpha Teknova in the second quarter worth about $712,000. Hedge funds and other institutional investors own 22.90% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Alpha Teknova from a “hold” rating to a “sell” rating in a report on Tuesday, October 5th. William Blair restated an “outperform” rating on shares of Alpha Teknova in a research report on Tuesday, July 20th. Stephens initiated coverage on Alpha Teknova in a research note on Tuesday, July 20th. They issued an “overweight” rating and a $27.00 price objective for the company. Cowen boosted their target price on Alpha Teknova from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, October 14th. Finally, BTIG Research began coverage on Alpha Teknova in a report on Tuesday, July 20th. They set a “buy” rating and a $26.00 price target on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.67.

TKNO traded down $0.07 during trading on Wednesday, reaching $23.20. The company had a trading volume of 135 shares, compared to its average volume of 129,565. The business’s 50 day moving average is $22.29. Alpha Teknova, Inc. has a 52 week low of $16.90 and a 52 week high of $30.89.

Alpha Teknova (NASDAQ:TKNO) last issued its quarterly earnings results on Tuesday, August 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.43). The company had revenue of $8.31 million during the quarter, compared to the consensus estimate of $7.70 million. On average, sell-side analysts anticipate that Alpha Teknova, Inc. will post -0.38 EPS for the current year.

Alpha Teknova Company Profile

Alpha Teknova, Inc provides reagents for bioprocessing, bioproduction, and molecular diagnostics. The company's reagents enable the discovery, research, development, and production of biopharmaceutical products, such as drug therapies, novel vaccines, and molecular diagnostics. It offers liquid culture, dry culture, agar, and animal-free media, as well as pre-poured plates, biological buffers, solutions, chemicals, and various treated and certified waters.

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Institutional Ownership by Quarter for Alpha Teknova (NASDAQ:TKNO)

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