Akoya Biosciences (NASDAQ:AKYA) Cut to “Hold” at Canaccord Genuity Group

Akoya Biosciences (NASDAQ:AKYA) was downgraded by research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on AKYA. Piper Sandler reissued an “overweight” rating and set a $3.00 target price (down previously from $4.00) on shares of Akoya Biosciences in a research note on Tuesday, November 19th. Craig Hallum lowered Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $7.00 to $5.00 in a research note on Friday, November 15th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.43.

Akoya Biosciences Price Performance

Shares of AKYA opened at $2.60 on Monday. Akoya Biosciences has a one year low of $1.88 and a one year high of $6.31. The stock’s fifty day moving average is $2.48 and its 200-day moving average is $2.54. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The firm has a market capitalization of $128.86 million, a price-to-earnings ratio of -2.20 and a beta of 1.18.

Institutional Trading of Akoya Biosciences

Large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its position in shares of Akoya Biosciences by 87.4% in the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after purchasing an additional 144,903 shares during the period. Barclays PLC grew its holdings in shares of Akoya Biosciences by 320.9% during 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 in the last quarter. State Street Corp raised its stake in shares of Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after purchasing an additional 18,361 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after buying an additional 9,429 shares during the last quarter. Finally, Regal Investment Advisors LLC grew its stake in shares of Akoya Biosciences by 64.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after buying an additional 7,340 shares in the last quarter. 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.