Readystate Asset Management LP Invests $967,000 in Aktis Oncology $AKTS

Readystate Asset Management LP purchased a new stake in shares of Aktis Oncology (NASDAQ:AKTS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the technology company’s stock, valued at approximately $967,000. Readystate Asset Management LP owned approximately 0.06% of Aktis Oncology at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its position in Aktis Oncology by 7.9% in the 2nd quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company’s stock worth $73,431,000 after buying an additional 166,231 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Aktis Oncology during the 2nd quarter valued at about $63,372,000. Jupiter Topco LLC purchased a new stake in shares of Aktis Oncology during the 2nd quarter valued at about $42,359,000. Alyeska Investment Group L.P. bought a new stake in shares of Aktis Oncology in the second quarter worth approximately $9,347,000. Finally, Bank of America Corp DE raised its holdings in shares of Aktis Oncology by 4.2% during the second quarter. Bank of America Corp DE now owns 72,835 shares of the technology company’s stock valued at $2,347,000 after purchasing an additional 2,909 shares during the last quarter. 28.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AKTS has been the topic of several research reports. Weiss Ratings upgraded shares of Aktis Oncology from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. 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. Wedbush began coverage on Aktis Oncology in a report on Wednesday, August 19th. They set an “outperform” rating and a $35.00 price target on the stock. Wall Street Zen lowered Aktis Oncology from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Raymond James Financial assumed coverage on Aktis Oncology in a research report on Monday, June 15th. They set a “strong-buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Insider Activity at Aktis Oncology

In other news, Director Ken Herrmann sold 4,856 shares of Aktis Oncology stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $24.56, for a total transaction of $119,263.36. Following the transaction, the director directly owned 3,506 shares of the company’s stock, valued at $86,107.36. The trade was a 58.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Aktis Oncology Stock Performance

Shares of NASDAQ AKTS opened at $27.05 on Tuesday. Aktis Oncology has a 12-month low of $14.72 and a 12-month high of $34.19. The firm has a market capitalization of $1.45 billion and a price-to-earnings ratio of -32.99. The firm has a 50 day moving average of $25.58 and a 200 day moving average of $21.89.

Aktis Oncology (NASDAQ:AKTS) last released its quarterly earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The business had revenue of $3.38 million for the quarter, compared to analyst estimates of $2.70 million. Sell-side analysts predict that Aktis Oncology will post -1.8 EPS for the current year.

Aktis Oncology Profile

Aktis Oncology (NASDAQ: AKTS) is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company’s activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.