Akoya Biosciences (NASDAQ:AKYA) Downgraded to “Hold” Rating by Craig Hallum

Craig Hallum lowered shares of Akoya Biosciences (NASDAQ:AKYA) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Marketbeat reports. The firm currently has $5.00 price objective on the stock, down from their previous price objective of $7.00.

A number of other equities research analysts also recently weighed in on AKYA. Morgan Stanley downgraded Akoya Biosciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $4.00 to $3.00 in a report on Tuesday, August 6th. Piper Sandler lowered their target price on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. BTIG Research downgraded shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. downgraded shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.57.

Akoya Biosciences Stock Down 23.0 %

NASDAQ:AKYA opened at $2.41 on Friday. The stock has a 50-day simple moving average of $2.91 and a 200 day simple moving average of $2.63. Akoya Biosciences has a one year low of $1.88 and a one year high of $6.31. The company has a market capitalization of $119.30 million, a price-to-earnings ratio of -2.04 and a beta of 1.34. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73.

Institutional Trading of Akoya Biosciences

Hedge funds have recently bought and sold shares of the company. Regal Investment Advisors LLC grew its position in Akoya Biosciences by 64.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after purchasing an additional 7,340 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after buying an additional 9,429 shares during the period. State Street Corp grew its holdings in Akoya Biosciences by 4.2% in the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after buying an additional 18,361 shares in the last quarter. Barclays PLC increased its position in Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after acquiring an additional 30,095 shares during the period. Finally, Vanguard Group Inc. increased its position in Akoya Biosciences by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after acquiring an additional 46,131 shares during the period. 79.42% of the stock is currently owned by institutional investors.

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.