Aktis Oncology (NASDAQ:AKTS) Stock Price Down 8.3% – Here’s What Happened

Shares of Aktis Oncology (NASDAQ:AKTS) fell 8.3% during trading on Monday. The stock traded as low as $14.89 and last traded at $14.6060. Approximately 57,666 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 349,898 shares. The stock had previously closed at $15.93.

Analysts Set New Price Targets

AKTS has been the topic of a number of analyst reports. Wall Street Zen cut Aktis Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings cut Aktis Oncology from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 2nd. JPMorgan Chase & Co. boosted their target price on shares of Aktis Oncology from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Oppenheimer started coverage on shares of Aktis Oncology in a report on Wednesday, September 9th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, BMO Capital Markets started coverage on shares of Aktis Oncology in a report on Tuesday, August 18th. They issued an “outperform” rating and a $37.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Aktis Oncology currently has an average rating of “Moderate Buy” and a consensus price target of $35.62.

Aktis Oncology Stock Down 10.0%

The company has a market cap of $770.88 million and a price-to-earnings ratio of -17.52. The company’s fifty day moving average price is $20.57 and its two-hundred day moving average price is $21.03.

Aktis Oncology (NASDAQ:AKTS) last posted its earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The firm had revenue of $3.38 million for the quarter, compared to the consensus estimate of $2.70 million. Research analysts forecast that Aktis Oncology will post -1.84 earnings per share for the current year.

Institutional Investors Weigh In On Aktis Oncology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new position in Aktis Oncology in the second quarter worth $32,000. The Manufacturers Life Insurance Company increased its stake in shares of Aktis Oncology by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 48,044 shares of the technology company’s stock valued at $1,548,000 after buying an additional 1,051 shares in the last quarter. GK Wealth Management LLC acquired a new position in Aktis Oncology during the 3rd quarter worth $26,000. Bank of America Corp DE boosted its position in Aktis Oncology by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 72,835 shares of the technology company’s stock valued at $2,347,000 after buying an additional 2,909 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Aktis Oncology by 14.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,250 shares of the technology company’s stock valued at $1,587,000 after buying an additional 6,349 shares during the last quarter. 28.84% of the stock is owned by institutional investors and hedge funds.

Aktis Oncology Company Profile

Aktis Oncology, Inc is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies for the treatment of cancer. The company’s research is directed primarily toward therapies for solid tumors, an area where it seeks to improve the ability of the immune system to recognize and eliminate cancer cells.

Aktis Oncology is developing a pipeline of targeted oncology candidates based on proprietary immune-cell engagement technologies. These therapies are intended to direct immune cells toward tumor-associated targets and potentially address cancers that are difficult to treat with existing immunotherapies.

The company’s programs remain in development, and publicly available information about its commercial products, geographic operations, and leadership is limited.