Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 24.0% in January

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,170,000 shares, a growth of 24.0% from the December 31st total of 1,750,000 shares. Based on an average trading volume of 597,700 shares, the short-interest ratio is presently 3.6 days. Currently, 4.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

AKYA has been the topic of several research reports. Canaccord Genuity Group downgraded Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler restated an “overweight” rating and set a $3.00 price objective (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Finally, Craig Hallum downgraded Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $7.00 to $5.00 in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.43.

Akoya Biosciences Trading Down 2.3 %

Shares of NASDAQ:AKYA opened at $2.92 on Friday. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $6.31. The business’s fifty day simple moving average is $2.55 and its 200-day simple moving average is $2.61. The company has a market capitalization of $144.75 million, a PE ratio of -2.47 and a beta of 1.18. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Akoya Biosciences in the 4th quarter valued at $28,000. Barclays PLC grew its stake in Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after buying an additional 30,095 shares during the last quarter. State Street Corp grew its stake in 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 buying an additional 18,361 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after buying an additional 144,903 shares during the last quarter. 79.42% of the stock is currently owned by hedge funds and other 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.