Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) PT at $3.62

Akoya Biosciences, Inc. (NASDAQ:AKYA) has received an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $3.62.

A number of equities analysts recently commented on the company. Piper Sandler downgraded Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price objective on the stock. in a research report on Wednesday, March 5th. Stephens reiterated an “equal weight” rating and set a $1.80 price target (down previously from $3.50) on shares of Akoya Biosciences in a report on Tuesday, March 25th. Finally, Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th.

Institutional Trading of Akoya Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in Akoya Biosciences by 39.6% in the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after buying an additional 8,258 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture lifted its holdings in shares of Akoya Biosciences by 1.4% in the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock worth $1,834,000 after acquiring an additional 11,000 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Akoya Biosciences during the 4th quarter worth approximately $27,000. SG Americas Securities LLC acquired a new stake in Akoya Biosciences in the 4th quarter valued at approximately $28,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Akoya Biosciences in the fourth quarter valued at approximately $31,000. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Trading Up 9.7 %

Shares of AKYA opened at $1.24 on Wednesday. Akoya Biosciences has a 52-week low of $1.01 and a 52-week high of $4.65. The stock has a market cap of $61.80 million, a PE ratio of -1.05 and a beta of 1.33. The firm’s fifty day moving average is $1.69 and its two-hundred day moving average is $2.34. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62.

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). The business had revenue of $21.34 million for the quarter, compared to analyst estimates of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. Research analysts forecast that Akoya Biosciences will post -0.96 earnings per share for the current fiscal year.

About Akoya Biosciences

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.