Akoya Biosciences (AKYA) Projected to Post Earnings on Monday

Akoya Biosciences (NASDAQ:AKYA) is expected to be issuing its quarterly earnings data after the market closes on Monday, March 31st. Analysts expect the company to announce earnings of ($0.16) per share and revenue of $21.34 million for the quarter.

Akoya Biosciences (NASDAQ:AKYA) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $21.34 million during the quarter, compared to the consensus estimate of $21.34 million. On average, analysts expect Akoya Biosciences to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Akoya Biosciences Trading Down 4.0 %

Shares of Akoya Biosciences stock opened at $1.43 on Friday. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The business has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $2.47. Akoya Biosciences has a 1 year low of $1.39 and a 1 year high of $4.69. The company has a market capitalization of $71.24 million, a price-to-earnings ratio of -1.21 and a beta of 1.32.

Hedge Funds Weigh In On Akoya Biosciences

A hedge fund recently raised its stake in Akoya Biosciences stock. Bank of America Corp DE raised its position in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 39.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,092 shares of the company’s stock after purchasing an additional 8,258 shares during the period. Bank of America Corp DE owned approximately 0.06% of Akoya Biosciences worth $67,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stephens restated an “equal weight” rating and set a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a research note on Tuesday, March 25th. Canaccord Genuity Group downgraded shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler downgraded Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a research report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.62.

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.