Akoya Biosciences’ (AKYA) “Equal Weight” Rating Reiterated at Stephens

Stephens reissued their equal weight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a research note released on Tuesday morning, Marketbeat reports. The brokerage currently has a $1.80 target price on the stock, down from their prior target price of $3.50.

Several other brokerages have also recently weighed in on AKYA. Piper Sandler cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price objective for the company. in a research note on Wednesday, March 5th. Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.62.

Akoya Biosciences Trading Up 2.8 %

Shares of NASDAQ:AKYA opened at $1.49 on Tuesday. Akoya Biosciences has a 12-month low of $1.39 and a 12-month high of $4.79. The business has a 50 day moving average of $2.14 and a 200-day moving average of $2.48. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. The stock has a market cap of $74.23 million, a PE ratio of -1.26 and a beta of 1.32.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. The firm had revenue of $21.34 million during the quarter, compared to the consensus estimate of $21.34 million. As a group, equities research analysts forecast that Akoya Biosciences will post -0.96 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in AKYA. Intech Investment Management LLC acquired a new position in Akoya Biosciences during the fourth quarter valued at approximately $27,000. SG Americas Securities LLC acquired a new position in shares of Akoya Biosciences during the 4th quarter worth $28,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Akoya Biosciences during the 4th quarter worth $31,000. Bank of America Corp DE lifted its position in shares of Akoya Biosciences by 39.6% during the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after buying an additional 8,258 shares during the last quarter. Finally, Barclays PLC boosted its stake in Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after buying an additional 30,095 shares in the last quarter. Institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Company Profile

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.