Should You Hold Alpha Teknova (TKNO)?

Conestoga Capital Advisors, an asset management company, released its “Micro Cap Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The Micro Cap Composite rose 2.93% net of fees in the first quarter, compared to the Russell Microcap Growth Index’s 0.76% return. The Strategy posted 10.45% annualized returns since its inception at the end of 2019. Both positive stock selection and sector allocation equally contributed to the relative outperformance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Conestoga Micro Cap Strategy highlighted stocks like Alpha Teknova, Inc. (NASDAQ:TKNO) in the first quarter 2023 investor letter. Headquartered in Hollister, California, Alpha Teknova, Inc. (NASDAQ:TKNO) is a reagents provider for the life sciences market. On May 26, 2023, Alpha Teknova, Inc. (NASDAQ:TKNO) stock closed at $3.3200 per share. One-month return of Alpha Teknova, Inc. (NASDAQ:TKNO) was 75.66%, and its shares lost 59.85% of their value over the last 52 weeks. Alpha Teknova, Inc. (NASDAQ:TKNO) has a market capitalization of $93.7 million.

Conestoga Micro Cap Strategy made the following comment about Alpha Teknova, Inc. (NASDAQ:TKNO) in its Q1 2023 investor letter:

“Alpha Teknova, Inc. (NASDAQ:TKNO): TKNO is a leading provider of critical reagents that enable the discovery, development, and production of biopharmaceutical products such as drug therapies, novel vaccines, and molecular diagnostics. TKNO underperformed in the quarter as early stage/startup Biotech customers continue to work through funding issues. On the positive side, TKNO opened their much anticipated GMP plant in Hollister, CA. Management has noted high customer interest in the new capacity and will begin commercial deliveries later in 2023.”

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Alpha Teknova, Inc. (NASDAQ:TKNO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Alpha Teknova, Inc. (NASDAQ:TKNO) at the end of the first quarter 2023 which was 6 in the previous quarter.

We discussed Alpha Teknova, Inc. (NASDAQ:TKNO) in another article and shared Conestoga Capital Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.